Result of Placing
Helix Exploration PLC has successfully completed a placing, raising approximately £16 million through the issuance of 72,727,273 shares at 22 pence each. The company is also conducting a retail offer to raise up to an additional £1.6 million. Notably, Drachs Investments No3 Ltd, the largest shareholder, subscribed for 31,818,182 shares and will be entitled to appoint two non-executive directors and a board observer, with associated option grants conditional on share price performance. The directors consider the terms of Drachs' participation, a related party transaction, to be fair and reasonable for shareholders.
Select text to share a quote on X · sign in to keep highlights & notes in your HEX notes
Helix Exploration PLC (AIM: HEX, OTCQB: HEXFF) the US based helium producer, announces, further to the announcement made on 2 July 2026 (the "Launch Announcement"), the completion of the Placing at the Issue Price of 22 pence per share.
The Placing has conditionally raised gross proceeds of approximately £16 million pursuant to the placing of 72,727,273 Placing Shares.
In addition to the Placing, the Company has also separately engaged RetailBook to undertake the Retail Offer of the Retail Shares at the Issue Price to existing and new retail investors through the RetailBook platform. The Retail Offer is to raise up to £1.6 million (which together with the Placing is the "Fundraising") at the Issue Price. The Retail Offer remains open and will close at 10:00 am on 3 July 2026. A further announcement will be made in due course.
Drachs' Participation in Placing
The Company's largest shareholder, Drachs Investments No3 Ltd ("Drachs") has subscribed for approximately 31,818,182 Placing Shares. Drachs will hold approximately 18.8 per cent of the enlarged issued Ordinary Share capital of the Company on Admission, assuming full take up in the Retail Offer. As part of its investment in the Company, Drachs is entitled to appoint two non-executive directors to the board as well as a board observer following Admission. These appointment rights are conditional upon Drachs holding not less than 18.8 per cent of the issued Ordinary Share capital following completion of the Fundraising and subject at all times to it continuing to hold not less than 15 per cent of the issued Ordinary Share capital from time to time. The appointments will be subject to the customary due diligence checks and agreement on the terms of their respective appointments and the entry into standard form non-executive letters of appointment and a consultancy agreement. The fees to be paid are expected to be in line with the existing non-executive directors at £24,000 per annum. In addition, it is a condition to Drachs' investment that each of their nominated directors and observer shall be granted options over 4.5m ordinary shares in three separate tranches, as follows on their appointment:
| Tranche | Number of Options | Exercise Price | Conditions to Exercise | Vesting Criteria | Exercise Period |
|---|---|---|---|---|---|
| 1 | 1,500,000 | £0.10 | Ordinary Shares trading ≥ £0.40 for 10 consecutive trading days | 2 years from Admission | 5 years |
| 2 | 1,500,000 | £0.16 | Ordinary Shares trading ≥ £0.46 for 10 consecutive trading days | 3 years from Admission | 5 years |
| 3 | 1,500,000 | £0.22 | Ordinary Shares trading ≥ £0.52 for 10 consecutive trading days | 4 years from Admission | 5 years |
Related Party Transaction
The participation of Drachs in the Placing is a "related party transaction" for the purposes of Rule 13 of the AIM Rules (the "Transaction"). All of the directors of the Company, being directors of the Company independent of the Transaction, having consulted with the Company's nominated adviser, Cairn Financial Advisers LLP, consider that the terms of the Transaction are fair and reasonable in so far as the Company's shareholders are concerned.
Capitalised terms used but not otherwise defined in this announcement have the meanings given to them in the Company's Launch Announcement, dated 2 July 2026.
LinkedIn: https://www.linkedin.com/company/helixexploration
X: https://x.com/HelixExp
Subscribe to our news alert service: https://helixexploration.com/investors/regulatory-news-alerts/
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.