George Lucan, Managing Director, writes: “There is never a good time to go to shareholders for cash, but we come to them now with a new and well composed Board, a clean financial sheet, a definitive and well communicated timetable of actions and an opportunity which the Board believes will, if and when completed, bring shareholders considerable value.
Going forward, it is the view of the Board that, wherever timing is appropriate and appetite is likely to match needs, existing Shareholders should be given reasonable opportunity to participate in the equity offerings of this Company.”
Circular published in connection with an Open Offer to Shareholders
Angus Energy is pleased to announce that, further to its commitment given to Shareholders in announcing a proposed Fundraise on 30 April 2019, it has now published the Circular in connection with an Open Offer to existing Shareholders of up to 10,761,858 new Ordinary Shares at a price of 4.25 pence per share (the “Circular”).
This represents to each Shareholder the right to purchase 1 share for every 50 shares held at the Record Date. This will be the first offer to all Shareholders since the shares of the Company were first admitted to the AIM in November 2016. Extracts from the Circular, including a Timetable and Offering Statistics, are set out at the end of this announcement.
The Circular will be posted to Shareholders today and copies are available on the Company’s website www.angusenergy.co.uk.
