Subscription to raise £150,000

Oracle Power PLC (AIM:ORCP), the international project developer, is pleased to announce that it has raised gross proceeds of £150,000 by way of a subscription for 1,153,846,154 new ordinary shares in the capital of the Company (the "Subscription Shares") at a price of 0.013 pence per share (the "Subscription Price") (the "Subscription"). The Subscription was with a single investor.

Use of Proceeds

The proceeds of the Subscription will be primarily used to progress the development of the projects in Australia, one of which is expected to result in a joint venture for the development of a potential mine, as well as supporting the advancement of the projects in Pakistan, and for general working capital purposes.

Admission to Trading and Total Voting Rights

Application will be made for the Subscription Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective at 8:00 a.m. on or around 20 November 2024. The Subscription Shares will rank pari passu with the existing Ordinary Shares.

Following Admission, the total issued share capital of the Company will be 8,606,156,518 existing Ordinary Shares, with no shares held in Treasury. Therefore, the total current voting rights in the Company following Admission will be 8,606,156,518 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Naheed Memon, CEO of Oracle, commented:

"We continue to advance a number of our projects and today's fundraise will enable us to continue on this upward trajectory."