Oracle Power Regulatory News (ORCP)

27 March 2018

Oracle Power PLC

("Oracle" or "the Company")

Equity Placing at 1.4p per Ordinary Share

Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in the south-eastern Sindh Province of Pakistan (Thar Block VI), announces that it has raised £550,000 before costs by way of a placing of 39,285,710 new Ordinary Shares at a price of 1.4p per Ordinary Share (the "Placing").

The proceeds of the Placing will provide Oracle with funds for general working capital as the Company moves towards financial close on the basis of the Memorandum of Understanding with two major Chinese State Owned Enterprises, Sichuan Provincial Investment Group and PowerChina International Group Limited, announced on 21 November 2017.

As part of the Placing, Brandon Hill Capital Limited (Brandon Hill) and its parent company, Optima Worldwide Group PLC, ("OWG") have each agreed to subscribe for 7,142,857 Ordinary Shares (in aggregate, 14,285,714 Ordinary Shares). In addition, Neal Griffith, a director and shareholder of OWG and a director of Brandon Hill, and Oliver Stansfield, a director of Brandon Hill, have each agreed to subscribe for 1,785,714 Ordinary Shares (in aggregate, 3,271,428 Ordinary Shares).

Following the issue of the new Ordinary Shares pursuant to the Placing, Brandon Hill, together with its parent company, OWG, and their directors, will hold 220,258,650 Ordinary Shares representing 20.08% per cent of the issued share capital of the Company.

Related party transaction

Brandon Hill, in aggregate with its parent company, OWG, is a substantial shareholder of the Company. Accordingly, the participation of Brandon Hill, OWG, Neal Griffith and Oliver Stanfield in the Placing constitute related party transactions pursuant to Rule 13 of the AIM Rules for Companies. The directors of the Company consider, having consulted with the Company's nominated adviser, Grant Thornton UK LLP, that the terms of their participation in the Placing are fair and reasonable insofar as its shareholders are concerned.

 Shahrukh Khan, CEO of Oracle, said:

 "We are pleased to confirm this equity placing, which will strengthen the Company's balance sheet to continue the work with our Chinese partners to reach financial close of Thar Block VI."

Settlement and dealings

Application will be made for the 39,285,710 Ordinary Shares, issued pursuant to the Placing, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. Dealings on AIM are expected to commence at 8:00am on or around 4 April 2018 ("Admission").

Following Admission, for the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), Oracle will have 1,096,821,582 Ordinary Shares in issue with voting rights attached (one vote per Ordinary Share). The Company does not hold any shares in treasury. This figure of 1,096,821,582 Ordinary shares may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the DTRs.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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