Results Of Equity Fundraising

Afentra PLC

04 June 2026

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

FOR IMMEDIATE RELEASE

4 June 2026

AFENTRA PLC

Results Of Equity Fundraising

Afentra plc ("Afentra" or the "Company") (AIM: AET), the upstream oil and gas company focused on acquiring production and development assets in Africa, is pleased to announce that it has successfully raised gross proceeds of US$40 million before expenses by way of an oversubscribed firm and conditional placing (the "Placing"). The Placing was completed via the issue of 44,315,240 new ordinary shares in the Company ("Placing Shares") representing 19.6 per cent of the Company's existing share capital at a price of 67 pence per share (the "Issue Price"), comprising:

-       a firm placing of 22,615,600 Firm Placing Shares to raise approximately US$20.4 million at the Issue Price, to be effected using the authorities to issue and allot new shares granted to the Directors by Shareholders at the Company's annual general meeting held on 4 June 2025 (the "Firm Placing"); and

-       a conditional placing of 21,699,640 Conditional Placing Shares to raise approximately US$19.6 million at the Issue Price, conditional upon inter alia the passing of the Resolutions at a general meeting of the Company (the "General Meeting").

The Issue Price represents a discount of approximately 5.2 per cent to the closing mid-market price of 70.7 pence on 2 June 2026.

The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the new Ordinary Shares.

Stifel Nicolaus Europe Limited ("Stifel") acted as Bookrunner (the "Bookrunner") to the Company in connection with the Placing.

In conjunction with the Placing, the Company will also offer the opportunity for the Company's wider retail shareholder base in the United Kingdom to participate in the offering at the Issue Price (the "Retail Offer"). The Retail Offer will be carried out via the Winterflood Retail Access Platform and a separate announcement will be made regarding the Retail Offer and its terms.

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for Admission to trading of the Placing Shares on AIM. It is expected that First Admission of the Firm Placing Shares will become effective at 8.00 a.m. on 9 June 2026 (or such later date as the Bookrunner and the Company may agree). Furthermore, it is expected that Second Admission of the Conditional Placing Shares will become effective, subject to shareholder approval of the Resolutions at the General Meeting, at 8.00 a.m. on 26 June 2026 (or such later date as the Bookrunner and the Company may agree). A further announcement will be made once the Retail Offer has closed.

Following Admission of the Firm Placing Shares, and prior to the Second Admission, the Company's issued and fully paid share capital will consist of 248,771,590 Ordinary Shares. The Company has no Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company will be 248,771,590 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms not otherwise defined in the text of this Announcement have the meanings given in the Company's announcement dated 3 June 2026.

For further information contact:

Afentra plc                                                                                                                       [phone]

Paul McDade, CEO

Anastasia Deulina, CFO

Christine Wootliff, Investor Relations

Burson Buchanan (Financial PR)                                                                                  [phone]

Bobby Morse

Barry Archer

George Pope

Stifel (Bookrunner, Nominated Adviser and Joint Broker)                                         [phone]

Callum Stewart

Simon Mensley

Ashton Clanfield

Tennyson Securities (Joint Broker)                                                                               [phone]

Peter Krens

Participation by Directors

Certain Directors have participated in the Placing for total gross proceeds of £369,569, as set out below.

Director	Existing holding of Ordinary Shares	New Ordinary Shares to be issued pursuant to the Placing	Resultant holding of Ordinary Shares immediately following First Admission	Resultant holding of Ordinary Shares following Second Admission
Thierry Tanoh	0	276,970	140,148	276,970
Andrew Osborne	225,000	200,000	326,201	425,000
Gavin Wilson	3,351,666	74,626	3,389,427	3,426,292

The FCA notifications, made in accordance with the requirements of MAR, are appended below.

DEALING NOTIFICATION FORM 
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	1.     Thierry Tanoh 2.     Andrew Osborne 3.     Gavin Wilson
2.	Reason for the notification
a)	Position/status:	1.     Chairman 2.     Non-Executive Director 3.     Non-Executive Director
b)	Initial notification/Amendment:	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Afentra plc
b)	LEI:	21380028BFDFJK8BRX92
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument: Identification code:	Ordinary shares of £0.10 per share par value GB00B4X3Q493
b)	Nature of the transaction:	Purchase of Ordinary Shares
c)	Price(s) and volume(s):	Price(s) Volume(s) 1.Thierry Tanoh 67p 140,148 2. Andrew Osborne 67p 101,201 3. Gavin Wilson 67p 37,761
d)	Aggregated information: · Aggregated volume: · Price:	N/a   N/a
e)	Date of the transaction:	4 June 2026
f)	Place of the transaction:	XLON

Important information

This Announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company's plans and its current goals and expectations relating to its future financial condition and performance and which involve a number of risks and uncertainties. The Company cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as "aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, economic and business conditions, the effects of continued volatility in credit markets, market-related risks such as changes in the price of commodities or changes in interest rates and foreign exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation, the further development of standards and interpretations under International Financial Reporting Standards ("IFRS") applicable to past, current and future periods, evolving practices with regard to the interpretation and application of standards under IFRS, the outcome of pending and future litigation or regulatory investigations, the success of future explorations, acquisitions and other strategic transactions and the impact of competition. A number of these factors are beyond the Company's control. As a result, the Company's actual future results may differ materially from the plans, goals, and expectations set forth in the Company's forward-looking statements. You should not place undue reliance on forward-looking statements. Any forward-looking statements made in this Announcement by or on behalf of the Company speak only as of the date they are made. Except as required by the Financial Conduct Authority, the London Stock Exchange or applicable law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this Announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

This Announcement is for information purposes only and shall not constitute an offer to buy, sell, issue, or subscribe for, or the solicitation of an offer to buy, sell, issue, or subscribe for any securities, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unauthorised or unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any failure to comply with these restrictions may constitute a violation of the securities law of any such jurisdiction.

This Announcement (and the information contained herein) is not for release, publication or distribution, directly or indirectly, in whole or in part, in or into the United States of America, its territories or possessions, any state of the United States or the District of Columbia (collectively, the United States). This Announcement is for informational purposes only and is not an offer of securities for sale in the United States. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or under the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States absent registration except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in accordance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offering of the securities referred to herein in the United States.

This Announcement does not contain an offer or constitute any part of an offer to the public. This Announcement is not a "prospectus" within the meaning of Regulation 21(1) of the Public Offers and Admissions to Trading Regulations 2024 ("POATR") and a copy of it has not been, and will not be, delivered to any authority which could be a competent authority for the purpose of the Prospectus Regulation (EU) 2017/1129 (the "EU Prospectus Regulation").

This Announcement is directed only at: (a) persons in member states of the European Economic Area who are qualified investors within the meaning of article 2(e) of the EU Prospectus Regulation and (b) if in the United Kingdom, persons who (i) have professional experience in matters relating to investments who fall within the definition of "investment professionals" in article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or are high net worth companies, unincorporated associations or partnerships or trustees of high value trusts as described in article 49(2) of the Order and (ii) are qualified investors as defined in paragraph 15 of Part 2 of Schedule 1 of the POATR and (c) otherwise, to persons to whom it may otherwise be lawful to communicate it (all such persons together being referenced to as "Relevant Persons"). Any investment in connection with the Placing will only be available to, and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this Announcement or any of its contents.

This Announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Stifel (apart from the responsibilities or liabilities that may be imposed by the FSMA or other regulatory regime established thereunder) or by any of its affiliates or agents as to, or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefor is expressly disclaimed.

Stifel, which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company as joint broker and sole bookrunner for the purposes of the Placing and is not acting for any other persons in relation to it and accordingly will not be responsible to anyone else in relation to the matters described in this Announcement. Apart from the responsibilities and liabilities, if any, which may be imposed on Stifel by the FSMA or the regulatory regime established under it, Stifel does not accept any responsibility whatsoever for the contents, completeness or accuracy of this Announcement, and no representation or warranty, express or implied, is made by Stifel with respect to the accuracy or completeness of this Announcement, or any part of it.

The distribution of this Announcement and the offering of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by the Company or Stifel that would permit an offering of such shares or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required to inform themselves about, and to observe, such restrictions.

The Announcement does not constitute a recommendation concerning any investor's options with respect to the Placing. The Placing Shares to which this Announcement relates may be illiquid and/or subject to restrictions on their resale. Prospective purchasers of the Placing Shares should conduct their own due diligence, analysis and evaluation of the business and date described in this Announcement, including the Placing Shares. The pricing and value of securities can go down as well as up. Past performance is not a guide to future performance. The contents of this Announcement are not to be construed as financial, legal, business or tax advice. If you do not understand the contents of this Announcement you should consult an authorised financial adviser, legal adviser, business adviser or tax adviser for financial, legal, business or tax advice.

The information in this Announcement may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, dissemination, reproduction, or disclosure of this information in whole or in part is unauthorised. Failure to comply with this directive may result in a violation of the US Securities Act or the applicable laws of other jurisdictions.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this Announcement.

 

END