News Oil & Gas

Beacon proposes share consolidation

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Beacon Energy plc has proposed a share consolidation of one new ordinary share of nil par value for every 1,000 existing ordinary shares of nil par value.

Shareholders: are due to vote at a general meeting on 24 December (Pixabay)

ITALY

The company, which posted £18.6 million losses in 2024, became a cash shell in January of this year following the sale of its assets in Germany.

Beacon has since signed a share purchase agreement with investor Reabold Resources plc, over the Colle Santo gas field in Abruzzo, Italy.

Shareholders are due to vote on the proposed share consolidation at a general meeting on 24 December 2025.

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