Placing to Raise £318,600
22 April 2025
Oracle Power PLC
("Oracle", the "Company" or the "Group")
Placing to Raise £318,600
Oracle Power PLC (AIM: ORCP), the international project developer, is pleased to announce that it has raised gross proceeds of £318,600 by way of a placing of 1,770,000,000 new ordinary shares in the capital of the Company (the "Placing Shares") at a price of 0.018 pence per share (the "Placing").
The net proceeds of the Placing will be primarily used to progress the development of the projects in Australia, as well as supporting the advancement of the projects in Pakistan, and for general working capital purposes.
CMC Markets UK plc, trading as CMC CapX, acted as the Company's placing agent in respect of the Placing.
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 25 April 2025. The Placing Shares will rank pari passu with the existing Ordinary Shares.
Following Admission, the total issued share capital of the Company will be 12,042,823,185 Ordinary Shares, with no shares held in Treasury. Therefore, the total current voting rights in the Company following Admission will be 12,042,823,185 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 on a number of fronts with our projects in Australia, in particular, continuing to make good progress. We expect to provide further updates to the market on these in due course. This fundraise will provide us with additional funds to accelerate these activities."
*ENDS*
For further information:
|
Oracle Power PLC Naheed Memon - CEO |
+44 (0) 203 580 4314 |
|
Strand Hanson Limited (Nominated Adviser and Broker) Rory Murphy, Matthew Chandler, Rob Patrick |
+44 (0) 20 7409 3494 |
|
St Brides Partners Limited (Financial PR) Susie Geliher, Isabel de Salis |
+44 (0) 20 7236 1177 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under 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, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.
About Oracle Power PLC:
Oracle Power PLC is an international project developer quoted on London's AIM market. The Company currently has two areas of focus: Western Australia and Pakistan. The Company is active in the energy industry in Pakistan and is working to establish one of the largest green hydrogen production facilities in the region.
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