RNS
Announcement
24 February 2025
AIM: SYN
Synergia Energy Ltd ("Synergia Energy" or the
"Company") announces an equity capital raising comprising of a
placing and a subscription with existing and new institutional
investors, and a director, for a total of £750,000 before expenses
(the "Fundraising"), through the issue of 2,500,000,000 new fully
paid ordinary shares ("Fundraising Shares"). The Fundraising
involved the issue of 1,916,666,700 placing shares ("Placing
Shares") and 583,333,300 subscription shares ("Subscription
Shares") at GBP0.03 pence per share.
Net proceeds from the Fundraising will be used to
bridge the Company's ongoing general, administrative and technical
costs prior to an expected increase in revenues from its 50%
working interest in the producing Cambay gas and condensate field
in India where it is carried on a US$20m field development
programme that is underway.
The Fundraising Shares will rank pari passu in all
respects with the existing shares. An application will be made to
the London Stock Exchange for the Fundraising Shares to be admitted
to trading on AIM ("Admission"). It is expected that Admission will
become effective on or around 27 February 2025.
In connection with the Fundraising,
the Company has also agreed to issue 115,000,002 unquoted warrants
exercisable at GBP0.03 pence per share for a period of 5 years from
Admission of the Placing Shares to AIM ("Broker
Warrants").
Total Voting Rights
Following the issue of the
Fundraising Shares, the Company's share capital and total voting
rights will comprise of 15,571,741,779 ordinary shares. The Company
does not hold any shares in treasury. Consequently, 15,571,741,779
is the figure which may be used by shareholders as the denominator
for the calculation 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 and Transparency
Rules.
Director Participation
The following Director of the
Company has subscribed for Subscription Shares:
|
Director
|
Subscription
amount
|
Number of Fundraising
Shares
|
Resultant
shareholding
|
Resultant interest in
enlarged share capital
|
|
Roland Wessel
|
£25,000
|
83,333,300
|
226,988,286
|
1.46%
|
Related Party Transaction
Republic Investment Management Pte
Ltd ("Republic") participated in £150,000 of the Fundraising.
Republic has a current shareholding in the Company of 13.4% and is
therefore categorised as a Substantial Shareholder of the Company
pursuant to the AIM Rules for Companies ("AIM Rules"). Accordingly,
Republic's participation in the placing is classified as a related
party transaction pursuant to the AIM Rules.
The independent directors of the
Company for the purposes of the Fundraise, being those other than
Mr Wessel, having consulted with Strand Hanson Limited, the
Company's Nominated Adviser, consider that the terms of Republic's
participation are fair and reasonable insofar as the Company's
shareholders are concerned.
This announcement
contains inside information for the purposes of Article 7 of the
Market Abuse Regulation (EU) 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR") and is disclosed in accordance with the Company's
obligations under Article 17 of MAR.
For and on behalf of
Synergia Energy Limited
Roland
Wessel
CEO
For further information, please contact:
|
Investor Enquires
Synergia Energy Ltd
Briana Stayt
Investor Relations
Email:
bstayt@synergiaenergy.com
Tel: +61 8 9485 3200
Australia
|
AIM
Joint Broker
SP
Angel Corporate Finance LLP
Broker
Richard Hail / Devik Mehta
Tel: +44 (0)20 3470 0470
UK
|
AIM
Joint Broker
Novum Securities
Broker
Colin Rowbury
Email:
crowbury@novumsecurities.com
Tel: +44 20 7399 9427
UK
|
AIM
Nominated Adviser
Strand Hanson Limited
Nominated Adviser
Ritchie Balmer / Rory
Murphy
Tel: +44 20 7409 3494
UK
|
Media Enquires (UK)
Vigo
Consulting
Investor Relations
Patrick d'Ancona / Finlay
Thomson
Email:
patrick.dancona@vigoconsulting.com
finlay.thomson@vigoconsulting.com
Tel:+ 44 20 7390 0230
UK
|
PDMR Dealing
Notifications
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name
|
Roland Wessel
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
b)
|
Initial Notification Amendment
|
Initial Notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
Synergia Energy Limited
|
|
b)
|
LEI
|
213800S292RJZ97HRR83
|
|
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
AU0000233538
|
|
b)
|
Nature of the transaction
|
Subscription of ordinary shares
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
0.03p
|
83,333,300
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Aggregated volume: 83,333,300
Aggregated price: £24,999.99
|
|
e)
|
Date of the transaction
|
21 February 2025
|
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM
|