Empyrean Energy to Raise up to GBP 2.01m through an Open Offer

Source: www.gulfoilandgas.com 4/22/2020, Location: Not categorized

Empyrean Energy plc proposes to raise up to £2.01 million (before expenses) through an Open Offer pursuant to which Qualifying Shareholders will have an opportunity to subscribe for an aggregate of 57,417,375 new Ordinary Shares (the "Open Offer Shares"), on the basis of 1 Open Offer Share for every 8 Exisng Ordinary Shares held on the Record Date, at 3.5 pence per Open Offer Share (the "Issue Price").

Qualifying Shareholders subscribing for their full entlement under the Open Offer may also request addional Open Offer Shares through the Excess Applicaon Facility.

Gulf Oil and Gas
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