Beacon Energy plc conditionally raised approximately £56,180, less than a quarter of the £250,000 target, via a retail offer.
COLLE SANTO
The company will issue of 1,440,519 new ordinary shares, at the issue price of 3.9 pence per share, subject to shareholder approval at a general meeting scheduled for 4 March 2026.
Net proceeds will help fund an interest in the Colle Santo gas field in Italy, which is also dependent on approval.
In October 2025, Beacon signed a share purchase agreement with investor Reabold Resources plc, which owns 46.2% in LNEnergy Ltd.
LNEnergy manages and owns 100% of Italian company LNE Srl, which has a 90% interest in Colle Santo.
A final investment decision on the project is expected in mid-2026.