Result of Placing and Open Offer and TVR Highlights: · Open Offer closed with c.38.15% take-up from existing shareholders raising gross proceeds of £2.63 million (US$3.72 million) through the issue of 750,289,637 ordinary shares at a price of 0.35p each ( Open Offer Shares ). · Successful Placing to raise additional gross proceeds of £4.26 million (US$6 million) through the further issue of 1,216,599,935 ordinary shares at a price of 0.35p each ( Placing Shares ). · Aggregate gross proceeds of £6.9 million (US$9.75 million) from Open Offer and Placing. Placing Summary: Bahamas Petroleum, the Caribbean and Atlantic margin focused oil and gas company, with production, appraisal, development and onshore and offshore exploration assets across the region,
The following amendment has been made to the Placings and Open Offer announcement released on 30 April 2021 at 7.00 a.m. under RNS No 1510X.
The date underlined in the following sentence has been changed from June 2022 to 2024 within the body of the announcement: Thereafter, once production of the next generation smoke alarm has commenced, a royalty fee per product will be payable to the Company as the manufacturing partner, with a multi-million volume fee agreed for the initial thirty months, with a minimum royalty fee commitment of €3.0 million (estimated to exceed £1.0 million by 2024).
All other details remain unchanged.
The full amended text is shown below.