Helium One Global has raised £9.9 million in a fundraise comprising the aggregate issue of 197,922,716 new ordinary shares at a 26% discounted price of 5 pence per ordinary share.
PLACING AND SUBSCRIPTION
The company said it increased the fundraise, announced on 13 December, following significant investor demand and included interest from existing shareholders and new investors.
The fundraise was conducted through an accelerated bookbuild process undertaken by Liberum Capital Ltd and Peterhouse Capital Ltd acting as joint bookrunners.
The placing of 175,567,924 new ordinary shares raised £8.8m and a subscription of 22,354,792 new ordinary shares raised £1.11m.
Helium One added that the issue price represented a discount of approximately 26% to the closing price of 6.75 pence per ordinary share on 12 December 2022.
DIRECTORS’ DEALINGS
The company’s directors subscribed for a total of 840,000 subscription shares.
| Director | Subscription Shares | Total Ordinary Shares held on Admission | % of Issued Share Capital on Admission |
| Ian Stalker | 360,000 | 11,251,343 | 1.37% |
| David Minchin | 100,000 | 310,000 | 0.04% |
| Robin Birchall | 40,000 | 40,000 | 0.00% |
| Sarah Cope | 100,000 | 212,524 | 0.03% |
| James Smith | 40,000 | 140,000 | 0.02% |
| Russel Swarts | 100,000 | 100,000 | 0.01% |
| Nigel Friend | 100,000 | 100,000 | 0.01% |
SHARE CAPITAL
On admission the fundraise shares will represent 24% of Helium One’s enlarged issued share capital.
The company’s issued and fully paid share capital will comprise 820,279,002 ordinary shares, each with one voting right. Helium One holds no ordinary shares in treasury.
USES
The company will use the proceeds for its planned drilling campaign at Tai prospect in the Rukwa Basin, Tanzania expected to begin Q1 2023.