Placing to Raise £500,000
Oracle Power PLC has successfully raised £500,000 through a placing of 1,250,000,000 new ordinary shares at 0.04 pence per share, a price 186% higher than its August 2025 placing. These funds will primarily advance Australian gold projects, particularly towards production following the Northern Zone mining lease grant, and support Pakistan projects, with remaining funds for general working capital. Admission of the new shares, which will rank pari passu with existing shares, is expected around July 9, 2026, bringing the total issued share capital to 16,971,394,613 ordinary shares.
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Oracle Power PLC (AIM: ORCP), the international project developer, is pleased to announce that it has raised gross proceeds of £500,000 by way of a placing of 1,250,000,000 new ordinary shares in the capital of the Company (the "Placing Shares") at a price of 0.04 pence per share (the "Placing Price"), representing a 20% discount to the closing mid-market closing price on 2 July 2026 (the "Placing"). This Placing price is 186% higher than the Company's last placing completed in August 2025.
Use of Proceeds
The net proceeds of the Placing will be primarily used to progress the development of the projects in Australia, particularly as we now aim to advance swiftly towards gold production following the granting of the mining lease for the Northern Zone. Funds will also be used to advance our projects in Pakistan, as well as for general working capital purposes.
Admission to Trading and Total Voting Rights
Application will be made for the Placing 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 9 July 2026. The Placing Shares will rank pari passu with the existing Ordinary Shares.
Following Admission, the total issued share capital of the Company will be 16,971,394,613 Ordinary Shares, with no shares held in Treasury. Therefore, the total current voting rights in the Company following Admission will be 16,971,394,613 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.
CMC Markets UK Plc trading as CMC CapX, acted as the Company's placing agent in respect of the Placing.
Naheed Memon, CEO of Oracle, commented:
"The granting of the mining lease for our Northern Zone Gold Project represents a key milestone for our exciting gold project that is located close to Kalgoorlie. To finally have this mining lease formally granted is a tremendous result for the Company, our JV partner, Riversgold Limited and our funding and production partner. We are also progressing well with the development of our energy projects in Pakistan. This fundraise will provide us with additional funds to accelerate development activities until we are able to generate revenue from our gold activities."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.