LONDON - Global Petroleum Limited (AIM:GBP) has announced a retail offer of new ordinary shares to its existing retail shareholders in the United Kingdom (TADAWUL:4280), separate from its concurrent placing of shares. The offer, facilitated through CMC CapX, allows eligible shareholders to participate in the company's growth by purchasing new shares at a fixed issue price of 0.225p.
The retail offer opened on Monday and is set to close by 4 p.m. on Wednesday, with the possibility of an earlier closure at the company's discretion. The initiative is part of a broader fundraising effort by Global Petroleum, with the admission of the fundraising shares to the AIM market of the London Stock Exchange (LON:LSEG) expected on January 16, 2025.
Eligible shareholders, defined as retail investors who held company shares before the announcement and are UK residents, can invest a minimum of £250 through participating financial intermediaries. The retail offer is contingent on the successful completion of the placing, and the shares will rank equally with existing ordinary shares upon issue.
The company has emphasized the importance of its retail shareholder base and aims to provide these investors with an opportunity to contribute to and benefit from its future endeavors. However, the retail offer is not being extended beyond the UK, and no offering document or prospectus will be issued in relation to the offer.
Investors are advised to conduct their due diligence and seek independent advice if necessary, as investments carry inherent risks and the value of shares can fluctuate. The announcement, based on a press release statement, serves as an informational notice and does not constitute investment advice or an endorsement of the company's prospects.
Global Petroleum has reserved the right to scale back orders if necessary and has reminded investors that once an application is made through an intermediary, it becomes irrevocable. The retail offer aims to raise approximately £250,000 before expenses, with the potential to increase depending on demand.
This move by Global Petroleum highlights the company's effort to engage its shareholder community in its growth strategy, while also adhering to the regulatory frameworks governing securities offerings in the UK.
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