Helium One Global Ltd raised a total £6.8 million via a fundraise and retail offer through the issue of 113m ordinary shares of no par value in the company at 6 pence per ordinary share.
DIRECTORS DEALINGS
A placing, conducted through an accelerated bookbuild process, of 104,383,335 new ordinary shares raised £6.26m and a subscription of 616,665 new ordinary shares raised £40,000.
The company also received gross £500,000 via a retail offer through the issue of 8,333,333 new ordinary shares at the issue price.
The issue price represents a 10.4% discount to the closing price of 6.7 pence per ordinary share on 5 September 2023.
Directors of the company subscribed for a total 483,332 subscription shares.
Chief executive officer Lorna Blaisse subscribed for 133,333 ordinary shares to hold a total 173,333, representing 0.02% of the issued share capital on admission.
Non-executive chairman James Smith subscribed for 83,333 (223,333, 0.02%); senior independent non-executive director (NED) Sarah Cope 83,333 ( 295,857,0.03%); and NEDs Russell Swarts 100,000 (200,000, 0.02%) and Nigel Friend 83,333 (183,333, 0.02%).
The company will also issue 750,000 ordinary shares at the issue price in lieu of certain advisory fees.
Following admission of all the shares, representing 12.1% of the company’s enlarged issued share, Helium One’s issued and fully paid share capital will comprise 941,456,430 ordinary shares, each with one voting right.
USES
Funds raised will go towards drilling a further prospect, Itumbula, immediately after the company’s planned drill at the Tai-C well on the Rukwa licence in Tanzania.