RE: Now that is a placing and a half31 Jul 2025 07:02
Conditional two tranche placing of new ordinary shares and warrants to raise up to approximately US$140 million to fund Phase 1 of Sea Lion
Proposed open offer of new ordinary shares
Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin, is pleased to announce it has received firm commitments to raise up to approximately US$140 million (approximately £105 million), before expenses, by way of a conditional placing of up to 198,207,354 new Ordinary Shares and 49,551,833 Underwriting Warrants at an issue price of 53 pence[1] (the "Issue Price") comprising:
· a firm placing of 162,813,189 Firm Placing Shares and 40,703,294 Firm Underwriting Warrants to raise approximately US$115 million at the Issue Price, conditional upon inter alia the occurrence of a final investment decision in relation to Phase 1 of the development plan for the Company's Sea Lion field, to be effected using the authorities to issue and allot new shares granted to the Directors by Shareholders at the Company's annual general meeting held on 27 June 2025 (the "Firm Placing"); and
· a conditional placing of 35,394,165 Conditional Placing Shares and 8,848,539 Conditional Underwriting Warrants to raise approximately US$25 million at the Issue Price, conditional upon inter alia the passing of the Resolutions at a general meeting of the Company (the "General Meeting") and the occurrence of a final investment decision in relation to Phase 1 of the development plan for the Company's Sea Lion field (the "Conditional Placing" and, together with the Firm Placing, the "Placing").
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