Europa Oil & Gas (Holdings) plc has conditionally raised £7.02 million, before expenses, to fund a new acquisition in the North Sea.
DISCOUNT
The company added that this was at a 21.7 % discount to the 30-day volume weighted average share price on 2 March 2022.
A Primary Bid offer, announced yesterday, is a separate and distinct offer, but is conditional on, inter alia, admission of the placing shares.
DIRECTORS’ DEALINGS
| Director | Role | Existing shareholding | Existing % shareholding | Allocation (shares) | Participation (% of Placing) | % holding post Placing |
| Simon Oddie | CEO | 884,615 | 0.16% | 2,500,000 | 0.71% | 0.35% |
| Brian O’Cathain | Chairman | 634,615 | 0.11% | 833,333 | 0.24% | 0.15% |
| William Ahlefeldt-Laurvig | NED | 34,906,288 | 6.16% | 833,333 | 0.24% | 3.74% |
PORTFOLIO
Europa said it would use the funds to acquire a farm-in of UKCS Block 13/23c (Serenity’) located in the North Sea.
The acquisition follows the company’s aim to hold an appraisal asset in addition to its existing producing and high impact exploration assets, for a more balanced portfolio.