Result of Placing
Helix Exploration PLC has successfully completed a placing, raising gross proceeds of approximately £2.2 million through the issuance of 8,800,000 shares at 25 pence per share. The net proceeds will be allocated to operational working capital, the Inez re-entry and perforation project, and corporate general and administrative expenses. Additionally, 60,000 ordinary shares were issued in lieu of fees. Following the admission of these new shares, the company's total issued share capital will be 195,427,400 ordinary shares.
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Helix Exploration, the helium exploration and development company with near-term production assets within the Montana Helium Fairway, is pleased to confirm, further to the announcement made on 2 March 2026 (the "Launch Announcement"), the successful completion of the Placing at the Issue Price of 25 pence per share.
The Placing conditionally raised gross proceeds of approximately £2.2 million pursuant to the placing of 8,800,000 Placing Shares. Hannam & Partners acted as sole bookrunner and broker in connection with the Placing. The Placing was conducted by way of an accelerated book build process.
Following the deduction of associated fees and expenses, the net proceeds receivable by the Company will be used principally for:
- Operational working capital
- Inez re-entry & perforation
- Corporate general and administrative expenses
Fee Shares
In connection to the Placing, the Company has issued 60,000 new Ordinary Shares at the Issue Price in lieu of fees ("Fee Shares", together with the Placing Shares, the "New Shares").
Admission and Dealings
Application will be made to London Stock Exchange for the New Shares to be admitted to trading on AIM. It is currently expected that Admission of the New Shares will take place on or before 8.00 a.m. on or around 6 March 2026 and dealings in the New Shares on AIM will commence at the same time.
The Placing is conditional upon, among other things, Admission becoming effective and the Placing Agreement not being terminated in accordance with its terms.
The New Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.
Total Voting Rights
Following admission of the New Shares, the Company's issued and fully paid share capital will consist of 195,427,400 Ordinary Shares, all of which carry one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 195,427,400. This figure may be used by Shareholders as the denominator for the calculations by which they will 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.