REG - Angus Energy PLC - Overriding Royalty Interest Payment and TVR

Angus EnergyAnnouncement

14/05/2024 12:30

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RNS Number : 3904O  Angus Energy PLC  14 May 2024

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

14 May 2024

 

Angus Energy Plc

("Angus Energy", the "Company" or together with its subsidiaries, the "Group")

(AIM:ANGS)

 

Overriding Royalty Interest Payment and TVR

 

ORRI Payment

 

As previously announced on 22 February 2024, Angus Energy will settle its
March 2024 royalty or ORRI ("Overriding Royalty Interest") payments on
Saltfleetby Field production in shares.

 

The Company will now issue a total of 27,448,470 Ordinary Shares to the ORRI
holders (the "ORRI Shares") at a price of 0.3544 pence each, being a 15%
discount to the 30-day VWAP as at 26 April 2024, representing a value of
£97,277.07.

 

Admission to trading on AIM

 

Application has been made to the London Stock Exchange for admission of the
ORRI Shares to trading and it is expected that admission will become effective
and dealings in the ORRI Shares will commence at 8.00 a.m. on 15 April
2024 ("Admission").

 

Following the issue of the ORRI Shares, the Company will have 4,421,854,810
Ordinary Shares in issue, each share carrying the right to one vote.  The
Company does not hold any Ordinary Shares in treasury.

 

Following Admission of the ORRI Shares, the above figure of 4,421,854,810
Ordinary Shares may be used by shareholders in the Company as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the share capital
of the Company under the Financial Conduct Authority's Disclosure Guidance
and Transparency Rules.

 

END

 

For further information on the Company, please visit www.angusenergy.co.uk
(http://www.angusenergy.co.uk) or contact:

Enquiries:

 

Angus Energy
Plc
 
www.angusenergy.co.uk (http://www.angusenergy.co.uk)

 

Richard Herbert

Chief Executive
Director
                                Via Flagstaff

 

Beaumont Cornish Limited (Nomad)
 
www.beaumontcornish.com (http://www.beaumontcornish.com)

 

James Biddle / Roland Cornish
                                Tel: +44 (0)
207 628 3396

 

SP Angel Corporate Finance LLP
(Broker)                      www.spangel.co.uk
(http://www.spangel.co.uk)
 

 

Stuart Gledhill / Caroline Rowe / Richard Hail
                      Tel: +44 (0)20 3470 0470

 

Flagstaff
PR/IR
 
angus@flagstaffcomms.com (mailto:angus@flagstaffcomms.com)

 

Tim Thompson / Fergus Mellon / Alison
Alfrey                   Tel: +44 (0) 207 129
1474

 

Disclaimers - this Announcement includes statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "forecasts", "plans", "prepares", "anticipates",
"projects", "expects", "intends", "may", "will", "seeks", "should" or, in each
case, their negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions. These forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
Announcement and include statements regarding the Company's and the Directors'
intentions, beliefs or current expectations concerning, amongst other things,
the Company's prospects, growth and strategy. By their nature, forward-looking
statements involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance. The
Company's actual performance, achievements and financial condition may differ
materially from those expressed or implied by the forward-looking statements
in this Announcement. In addition, even if the Company's results of
operations, performance, achievements and financial condition are consistent
with the forward-looking statements in this Announcement, those results or
developments may not be indicative of results or developments in subsequent
periods. Any forward-looking statements that the Company makes in this
Announcement speak only as of the date of such statement and (other than in
accordance with their legal or regulatory obligations) neither the Company,
nor the Bookrunner nor Beaumont Cornish nor any of their respective
associates, directors, officers or advisers shall be obliged to update such
statements. Comparisons of results for current and any prior periods are not
intended to express any future trends or indications of future performance,
unless expressed as such, and should only be viewed as historical data.

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

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