NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR WITHIN
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF THE LAWS OF
16 February 2024
Baron Oil Plc
("Baron Oil", "Baron" or the "Company")
Result of WRAP Retail Offer
Result of Fundraise
and
Total Voting Rights
Baron Oil (AIM: BOIL), the AIM-quoted oil and gas exploration and appraisal company, is pleased to confirm, further to the announcements made on 15 February 2024, the result of its Fundraise at the Issue Price of
In total, the Placing and Subscription and the WRAP Retail Offer have raised gross proceeds of approximately
Admission and Total Voting Rights
Application will be made for the Placing and Subscription Shares and the WRAP Retail Offer Shares to be admitted to trading on AIM ("Admission") and the date on which Admission is expected to become effective is on or around 29 February 2024.
Upon Admission, the Company's issued ordinary share capital will consist of 25,510,783,788 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, from Admission the total number of Ordinary Shares and voting rights in the Company will be 25,510,783,788. With effect from Admission, 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 to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
The new Ordinary Shares to be issued pursuant to the WRAP Retail Offer will be issued free of all liens, charges and encumbrances and will, on Admission, rank pari passu in all respects with the new Ordinary Shares to be issued pursuant to the Placing, the Subscription and the Company's existing Ordinary Shares.
Terms used but not defined in this announcement have the same meaning as set out in the Company's announcement released at 5 p.m. on 15 February 2024.
For further information, please contact:
Baron Oil Plc |
+44 (0) 20 7117 2849 |
Andy Yeo, Chief Executive |
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Allenby Capital Limited |
+44 (0) 20 3328 5656 |
Nominated Adviser and Joint Broker |
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Alex Brearley, Nick Harriss, George Payne (Corporate Finance) |
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Kelly Gardiner, Stefano Aquilino (Sales and Corporate Broking) |
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Cavendish Capital Markets Limited |
+44 (0) 131 220 6939 / +44 (0) 207 397 8900 |
Joint Broker |
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Neil McDonald, Pearl Kellie (Corporate Finance) |
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Leif Powis (Sales) |
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IFC Advisory Limited |
+44 (0) 20 3934 6630 |
Financial PR and IR |
baronoil@investor-focus.co.uk |
Tim Metcalfe, Florence Chandler |
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Winterflood Retail Access Platform |
WRAP@winterflood.com |
Andrew Stancliffe |
+44(0) 20 3100 0000 |
Phoebe Pankhurst |
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Further information on the Company can be found on its website at www.baronoilplc.com.
The Company's LEI is 213800MBSOS9UZ5SW712.
This announcement should be read in its entirety. In particular, the information in the "Important Notices" section of the announcement should be read and understood.
Important Notices
The content of this announcement, which has been prepared by and is the sole responsibility of the Company.
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 or from
The WRAP Retail Offer Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act") or under the applicable state securities laws of
This announcement does not constitute an offer to sell or issue or a solicitation of an offer to buy or subscribe for WRAP Retail Offer Shares in
This announcement is not for publication or distribution, directly or indirectly, in or into
The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
WRAP is a proprietary technology platform owned and operated by Winterflood Securities Ltd (registered address at The Atrium Building, Cannon Bridge, 25 Dowgate,
The value of Ordinary Shares and the income from them is not guaranteed and can fall as well as rise due to stock market movements. When you sell your investment, you may get back less than you originally invested. Figures refer to past performance and past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations.
Certain statements in this announcement are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These forward-looking statements, which may use words such as "aim", "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning, include all matters that are not historical facts. These forward-looking statements involve risks, assumptions and uncertainties that could cause the actual results of operations, financial condition, liquidity and dividend policy and the development of the industries in which the Company's businesses operate to differ materially from the impression created by the forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given those risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements speak only as at the date of this announcement and cannot be relied upon as a guide to future performance. The Company and Winterflood expressly disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Conduct Authority, the London Stock Exchange or applicable law.
The information in this announcement is for background purposes only and does not purport to be full or complete. None of Winterflood or any of its affiliates, accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith. Winterflood and its affiliates, accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise be found to have in respect of this announcement or its contents or otherwise arising in connection therewith.
Any indication in this announcement of the price at which the Ordinary Shares have been bought or sold in the past cannot be relied upon as a guide to future performance. Persons needing advice should consult an independent financial adviser. No statement in this announcement is intended to be a profit forecast and no statement in this announcement should be interpreted to mean that earnings or target dividend per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings or dividends per share of the Company.
Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into or forms part of this announcement. The WRAP Retail Offer Shares to be issued or sold pursuant to the WRAP Retail Offer will not be admitted to trading on any stock exchange other than the London Stock Exchange.
It is further noted that the WRAP Retail Offer was only open to investors in the
Allenby Capital, which is authorised and regulated by the FCA in the
Cavendish, which is authorised and regulated by the FCA in the
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