Angus Energy PLC (AIM:ANGS) Result of GM, TVR and Saltfleetby Update

Result of General Meeting

Issue of Equity, TVR and Saltfleetby Update

The Company announces that at the General Meeting held earlier today all resolutions were passed.

Accordingly, and further to the announcement of a fundraising (the “Fundraising”) on 19 December 2022 conducted in two tranches, the Company now has sufficient authorities to issue the second tranche of 89,781,000 new Ordinary Shares together with 311,250,000 warrants (“Conditional Subscription”) in respect of the entire Fundraising

In addition, the Company now has sufficient authorities to issue Forum Energy Services Ltd (“Forum”) 60,606,061 new Ordinary Shares at the Fundraising price of 1.65 pence per share (together with the issue of 30,303,030 warrants on the same basis as applicable to the Fundraising) in settlement of the Company’s obligation to pay certain deferred consideration of £1,000,000 to Forum in accordance with the Saltfleetby SPA as announced on 24 May 2022 (“Forum Issue”).

Application has been made to the London Stock Exchange for admission to AIM of the new Ordinary Shares, which will rank pari passu with all existing ordinary shares, to be issued under the Conditional Subscription and the Forum Issue (“Admission”). Admission will become effective on or around 12 January 2023. The total Warrants and Forum Warrants, subject to the passing of the Resolutions and assuming no exercise of existing options and warrants, would be 341,553,030 representing 9.96% of the issued share capital of the Company as enlarged by the Fundraising and the Forum Share Issue.

For the purposes of the FCA’s Disclosure and Transparency Rules (“DTRs”), following Admission of the new Ordinary Shares, the total number of Ordinary Shares in the capital of the Company in issue will be 3,430,376,075 with voting rights. This figure may be used by shareholders 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 Company’s share capital pursuant to the Company’s Articles.

Saltfleetby Sidetrack Update

The Company is pleased to announce that drilling operations recommenced this week and the programme has presently reached 2553 metres Measured Depth.


For further information on the Company, please visit or contact:


Angus Energy Plc

George Lucan Tel: +44 (0) 208 899 6380

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