Client NewsAdvance Energy plc: Placing and Intended Subscription to raise £425,000 in total
The Company announces that it has raised £345,000 (gross), before expenses, by way of a placing (the “Placing”) and, in addition, has received intentions to participate in the Placing and a subscription on the same terms as the Placing to raise, in aggregate, a further £80,000 from certain directors (the “Intended Director Participation”).
The Placing has been arranged by Optiva Securities Limited and comprises the issue to new and existing shareholders of 405,882,354 ordinary shares of no par value (“Ordinary Share”) at an issue price of 0.085 pence per Ordinary Share (“Issue Price”), and the issue of one warrant (“Warrant”) for every one new Ordinary Share issued. Each Warrant gives the holder the right to subscribe for one new Ordinary Share at a price of 0.13 pence per Ordinary Share at any time from the issue of the Warrant up to (and including) 5.00 p.m. on 26 July 2025 (the “Warrant Exercise Period”).
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