Oracle Power PLC has raised £500,000 via a share placing to support its projects in Australia and Pakistan. The placing involves the issue of 3.57 billion new shares at 0.014 pence each, representing a discount to the previous mid-market price.
Proceeds will be directed towards advancing the company’s Australian projects, progressing its energy initiatives in Pakistan, and for general working capital purposes.
“We are progressing very well with our projects in Australia and moving ahead with the development of our energy projects in Pakistan. We expect to provide further updates to the market in due course. This fundraise will provide us with additional funds to accelerate development activities.” said chief executive Naheed Memon.
Admission to Trading and Total Voting Rights: Application will be made for the Placing Shares to be admitted to trading on AIM (“Admission“). It is expected that Admission will become effective at 8:00 a.m. on or around 20 August 2025. The Placing Shares will rank pari passu with the existing Ordinary Shares.
Following the announcement, Oracle Power shares fell 18% in London to 0.014p, in line with the placing price.
Comment: One did not have to be Jesse Livermore to work out judging by the falling away of the share price yesterday that a placing was on its way. More mysterious is how / why the shares tend to rally sharply just before the wall cross emails hit inboxes.
