Prospex Energy plc has raised a total of approximately £1.2 million from a WRAP retail offer and last week’s placing and subscription.
TVRs
Proceeds will go towards workover of the Viura-1B well in northern Spain.
The company will issue 3,044,638 new ordinary shares at the issue price of 4.5 pence per share in relation to the retail offer, which raised £137,009.
An additional subscription, from “market demand” raised a further £9,000 through the issue of 200,000 new ordinary shares by way of a direct subscription.
The number of new ordinary shares issued in aggregate totals 26,170,193 new ordinary shares.
Following admission of shares from the placing, subscription, WRAP retail offer and the additional subscription, Prospex will have 428,710,121 ordinary shares of 0.1p each in issue, each with one voting right.
The increased share capital results in changes to shareholdings of directors and persons discharging managerial duties.
Chief executive officer Mark Routh holds 2,972,662 total ordinary shares on admission, representing 0.69% of the enlarged share capital.
Non-executive chairman Bill Smith has 8,414,343 shares (1.96%); non-executive director Alasdair Buchanan 5,059,172 (1.18%); NED Andrew Hay 555,555 (0.13%), head of finance Grant Glanfield 11,115,108 (2.59%); and chief operating officer Richard Jameson 10,313,222 (2.41%).