Completion of £1 Million Fundraise
Georgina Energy raised £1m through placing of 37,037,000 shares at 2.7p per share.
- Gross proceeds £1m
- Placing price 2.7p
- Shares issued 37,037,000
- Enlarged issued share capital 165,697,654
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Georgina Energy plc (LSE: GEX), is pleased to announce that it has successfully raised approximately £1m through the issue of 37,037,000 new ordinary shares at a placing price of 2.7 pence per share (the "Placing"). The Placing was undertaken by Clear Capital.
The Company will issue investors with one warrant per two placing shares at an exercise price of 5 pence expiring 5 years from Admission ("Investor Warrants").
Use of Proceeds
The net proceeds of the Placing will primarily be to advance the work programmes and for general working capital.
Broker Warrants
The Company will issue Clear Capital with 2,222,220 Broker Warrants exercisable at 2.7 pence and expire five years from the date of Admission.
Admission of Placing Shares
An application has been made for 37,037,000 new ordinary shares relating to the Placing to be admitted to trading on the official list of the London Stock Exchange from 8.00 a.m. on 6 May 2026 ("Admission") The placing provides general working capital and for pre- drill activities.
Total Voting Rights
In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company's enlarged issued ordinary share capital will comprise 165,697,654 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.