EnergyPathways, the UK energy transition company, announces that it has closed the fundraising that it announced on 28 September 2026, raising £1.75m at 5.75p per ordinary share with a single institutional subscriber who had requested to invest in the Company on a sole basis.
Use of Proceeds
The funds will be deployed to accelerate the Company's MESH project and provide working capital. The Company intends to acquire some key assets including, but not limited to, land, existing pipelines and technical data. These activities will further de-risk the MESH project for institutional and strategic partner investment in which discussions the Company is actively engaged.
Capital Access Window & Restoration to Trading
As detailed in the Company's announcement of 28 September 2026, the Company entered a Capital Access Window on 28 September 2026 in connection with the Fundraise. Following this announcement of the result of the Fundraise, the Capital Access Window has now closed and trading in the Company's existing ordinary shares is expected to resume at 7.30a.m. on 13 October 2026.
Admission and Total Voting Rights
The 30,434,782 new ordinary shares the subject of the fundraise (the "Placing Shares") will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive all dividends and other distributions declared, made or paid after their date of issue.
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that Admission will become effective and dealings in the New Shares will commence at 8.00 a.m. on 15 October 2026. The Placing is conditional upon, amongst other things, Admission becoming effective.
Following Admission, the Company's issued ordinary share capital will consist of 282,134,998 ordinary shares of £0.01 each, with one voting right per share. No ordinary shares are held in treasury. The total number of voting rights in the Company following Admission will therefore be 282,134,998, which figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Original announcement link
Source: EnergyPathways
