Beacon Energy plc has proposed a share consolidation of one new ordinary share of nil par value for every 1,000 existing ordinary shares of nil par value. ITALY The company, which posted £18.6 million losses in 2024, became a cash shell in January of this year following the sale of its assets in Germany. Beacon […]
Tag: Beacon Energy plc
Reabold increases interest in Colle Santo
Reabold Resources plc has increased its holding to 47.4% in the majority owner of the Colle Santo gas project in Abruzzo, onshore Italy. The investment company purchased a further 1.2% in LNEnergy Ltd, through subscribing for 128 new ordinary shares at £1,200 per share, for a total £153,600. LNEnergy’s local subsidiary, LNEnergy S.r.l, has a […]
Beacon agrees ‘pivotal’ deal over Colle Santo
Beacon Energy plc has reached a binding conditional agreement to buy shares, in a “transformational, value enhancing transaction”, in the Colle Santo gas field in the Abruzzo region, onshore Italy. REABOLD The company, which posted £18.6 million losses in 2024 and is currently a cash shell, signed the share purchase agreement with investor Reabold Resources plc, […]
Beacon temporarily suspends trading
Beacon Energy plc today temporarily suspended its shares from trading until it announces and publishes an admission document. LOSSES The company’s local subsidiary previously accumulated debts of €7.5 million following a poor show from drilling on the Erfelden field in Hessen, Germany. In January, Beacon became a cash shell after creditors sold certain assets, marking […]
Beacon becomes cash shell after assets sale
Beacon Energy plc today became an AIM Rule 15 cash shell after creditors sold certain assets belonging to its German subsidiary to a third party, signalling the start of its liquidation. TRADING Rhein Petroleum GmbH had debts of €7.5 million following a poor show at the Erfelden field in Hessen and lack of “very significant […]
Beacon’s German subsidiary faces liquidation
Beacon Energy plc expects its German subsidiary Rhein Petroleum GmbH, with debts of €7.5 million, will be sold following a 20% drop in production. CAPITAL The company said it was looking to other areas in Europe as well as Africa and the Far East for new opportunities which it has been assessing for the past […]