Orcadian Energy plc has issued 781,634 ordinary shares, which settles £100,000 of the face value convertible loan amount from December 2025.
TVRs
Following the conversion, a total of £352,500 face value CLNs remains outstanding.
On admission, the company’s voting rights will be 79,986,977 ordinary shares.
Orcadian holds UK North Sea oil interests which include the Pilot field, Elke and Narwhal discoveries and the Fynn licence.
The company’s two gas assets are the Mid-North Sea High joint venture licence, P2650, and the southern North Sea licence, P2680 containing the Earlham discovery, the Clover prospect the decommissioned Orwell field which has “redevelopment potential” and some smaller prospects.