Beacon Energy (AIM: BCE) Update re Proposed Reverse Takeover Transaction

Proposed Acquisition of a significant interest in LNEnergy – Proposed Fundraise.

Beacon Energy PLC (AIM: BCE) has published an admission document and issued notice of an extraordinary general meeting as part of its proposed reverse takeover of a significant interest in LNEnergy Limited, alongside a conditional fundraising.

The company is seeking to raise £3.79 million gross through the issue of 97,191,443 new ordinary shares priced at 3.9 pence each. Beacon’s shares have been suspended from trading since June 2025, and the admission of the enlarged share capital is expected on or around March 6, 2026, subject to shareholder approval.

Shareholders will vote on the proposals at the EGM scheduled for March 5, 2026. Beacon warned that failure to pass the resolutions could result in substantial abort costs and may leave the company at risk of entering administration.

Restoration of Trading

The Company’s Existing Ordinary Shares were suspended from trading on AIM on 27 June 2025 pending the completion of the Acquisition, classified as a reverse takeover under the AIM Rules. Application will be made to the London Stock Exchange in due course for the Enlarged Share Capital to be admitted to trading on AIM following completion of the Acquisition. Admission of the Enlarged Share Capital to trading on AIM is expected to take place on or around 6 March 2026, subject to the passing of the Resolutions and the satisfaction of all other conditions. The expected timetable of events can be found at the end of this announcement.

Further comprehensive information on the LNEnergy assets, the Acquisition, the Fundraise and the Resolutions can be found in the Company’s Admission Document (and the Notice of Extraordinary General Meeting set out therein), is available on the Company’s website at www.beaconenergyplc.com and which has been posted to Shareholders.

Stewart MacDonald, Chief Executive Officer of Beacon Energy, commented:

“The completion of a strategic investment in LNEnergy will be transformative for Beacon, providing the Company with proven reserves, a pathway to production and an exciting pipeline of value catalysts over the next 18 months. We look forward to updating Shareholders and the market on our progress in due course.”

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