Lansdowne Oil & Gas plc has raised £99,259 through its retail offer of 99,259,000 new ordinary shares at the issue price of 0.1 pence per share.
TVRs
The sum adds to the funds raised earlier this month through a placing of 1.9 billion shares, for gross proceeds of £1,999,259, subject to shareholder approval at a forthcoming general meeting.
Following admission, the company’s issued share capital will comprise 2,638,982,667 ordinary shares, with one voting right each.
Lansdowne does not hold any ordinary shares in treasury.
The company is currently shifting its exploration activities from oil and gas, offshore southeast Ireland to acquire the Macaubus graphite project in the State of Bahia, northeast Brazil.
ECT
Lansdowne is also progressing its claim of a minimum US$100 million, plus interest, under the Energy Charter Treaty (ECT) over the Irish Government’s refusal to award a lease undertaking for the Barryroe oil and gas field.
In a statement today, the company said it had received written confirmation that its request for arbitration had been registered at the International Centre for Settlement of Investment Disputes (ICSID) in Washington, D.C.
“This is an important step in the arbitration process and will now be followed by the appointment of a tribunal,” added Lansdowne.
“Lansdowne will continue to vigorously assert its rights under the ECT in its dispute with Ireland.
“Lansdowne noted that on 27 April 2026, the ECT announced that it had received notification of Ireland’s withdrawal from the treaty.
“It further noted that this will become effective one year after its notification to the [ICSID] Secretariat – from 28 April 2027,” said Lansdowne.
“It also noted that Ireland will continue to be bound by the 20-year sunset clause.
“Accordingly, Ireland’s withdrawal from the ECT will have no bearing on Lansdowne’s case.
“In June 2023 Lansdowne gave notice to Ireland that a dispute existed under the ECT and the filing and registration of the RFA [request for arbitration] brings to a close the first formal step in the arbitration process.”
Chief executive officer Stephen Boldy added that Lansdowne shares are expected to restart trading on 27 May 2026, following the general meeting on 26 May 2026.