Placing and Broker Appointment

RNS Number : 0377F
Pennpetro Energy PLC
16 March 2022
 

 

 

 

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

 

This announcement is not an offer for sale, or a solicitation of an offer to acquire, securities in any jurisdiction, including in or into the United States, Canada, Australia, or Japan. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

 

 

Pennpetro Energy PLC

("Pennpetro" or the "Company")

 

 

Placing and Broker Appointment

 

London, 16 March 2022   - F ollowing the announcement this morning of a proposed farm-in arrangement with Upland Resources Limited, Pennpetro, the independent oil and gas company, is pleased to announce the successful completion of a placing (the "Placing"), arranged by the Company's broker Peterhouse Capital Limited ("Peterhouse"), to raise £350,000 before expenses, via the issue of 1,166,667 new ordinary shares (the "Placing Shares") at a price of 30p per share.

 

Pennpetro is also pleased to announce the appointment of Peterhouse as broker to the Company with immediate effect.

 

Application will be made for admission of the Placing Shares to the standard listing segment of the Official List and for admission to trading on the London Stock Exchange's Main Market for listed securities. It is expected that admission will take place at 8.00am on 21 March 2022 and that dealings in such shares will commence at the same time.

Tom Evans, CEO of Pennpetro Energy plc, commented:

 

"We thank our existing shareholders and welcome our new investors to our ongoing development initiatives, as we simultaneously progress and complete our proposed farm-in agreement with Upland Resources. Shareholders can confidently look forward to an exciting and progressive series of developments in the near future."

 

Total Voting Rights  

Following the issue of the Placing Shares, the Company's issued share capital will comprise 77,618,773 ordinary shares of £0.01 each. The total number of voting rights in the Company following the issue of the Placing Shares will be 77,618,773. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interests in, or a change to their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

 

Enquiries

 

Pennpetro Energy plc

Thomas Evans

 

tme@pennpetroenergy.co.uk

Instinctif

Galyna Kulachek

Sarah Hourahane

 

pennpetro@instinctif.com

+44 (0) 20 7457 2020

Peterhouse Capital Limited (broker)

Lucy Williams

+44 (0) 20 7469 0930

 

 

NOTES TO EDITORS

 

Pennpetro Energy is an independent oil and gas company focusing on production in the Gonzales Oil Field in Texas, USA. Shares in the company were admitted to the Official List of the London Stock Exchange by way of a Standard Listing on 21 December 2017.

 

Further information on the Company can be found at www.pennpetroenergy.co.uk  

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