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    ENQ   GB00B635TG28

ENQUEST PLC

(ENQ)
  Report
Delayed Quote. Delayed London Stock Exchange - 09/20 11:35:07 am
23.15 GBX   +0.22%
09/07Today on Wall Street: Back to business
09/07ENQUEST : Jefferies Drops Enquest Rating To Hold From Buy, Cuts PT
MT
09/07ANALYST RECOMMENDATIONS : Amgen, Banner, Merck, Oracle, Phoenix...
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EnQuest PLC : - Results of Capital Raising and General Meeting

07/26/2021 | 11:18am EDT

On 30 June 2021, EnQuest PLC ('EnQuest', or the 'Company') announced details of a proposed underwritten Firm Placing and Placing and Open Offer (the 'Capital Raising') to raise gross proceeds of approximately GBP36.1 million, approximately GBP18.0 million by way of a Firm Placing of 94,852,612 New Ordinary Shares and approximately GBP18.1 million by way of a Placing and Open Offer of 95,269,772 New Ordinary Shares, in each case at an issue price of 19 pence per New Ordinary Share.

The Open Offer Shares were conditionally placed with Conditional Placees, subject to clawback to satisfy Open Offer Entitlements taken up by Qualifying Shareholders, pursuant to the Placing.

The Firm Placing Shares were not subject to clawback and were not part of the Open Offer.

The Open Offer closed for acceptances at 11:00 a.m. on 22 July 2021. The Company has received valid acceptances from Qualifying Shareholders under their Open Offer Entitlements in respect of 56,380,309 New Ordinary Shares, representing approximately 59.18% of the Open Offer Shares.

The Company is also pleased to announce that, at the General Meeting of the Company held at 09:30 a.m. on 23 July 2021, the Resolutions (as set out in the Notice of General Meeting found at the end of the combined circular and prospectus of the Company published on 30 June 2021 (the 'Prospectus') were duly passed as ordinary resolutions (resolution 1, resolution 2 and resolution 4 below) and special resolutions (resolution 3 below) on a poll vote (in which every member present in person or by proxy and eligible to vote on the resolution had one vote for each share held).

Applications have been made for the admission of 190,122,384 Ordinary Shares to the premium listing segment of the Official List of the Financial Conduct Authority ('FCA') and to trading on the London Stock Exchange's main market for listed securities. It is expected that Admission will become effective and that dealings in the new Ordinary Shares will commence at 8:00 a.m. on 26 July 2021. Application has also been made to NASDAQ Stockholm for the New Ordinary Shares to be admitted to trading on NASDAQ Stockholm and it is expected that admission will become effective and dealings in the New Ordinary Shares on NASDAQ Stockholm will commence at 9.00 a.m. (Stockholm time) on 26 July 2021.

The New Ordinary Shares when issued will rank, from Admission, pari passu in all respects with the Existing Ordinary Shares and will have the right to receive all dividends and distributions declared in respect of issued Ordinary Share capital of the Company after Admission.

Contact:

Tel: +44 (0)20 7925 4900

IMPORTANT INFORMATION

This announcement has been issued by and is the sole responsibility of the Company. The information contained in this announcement is for background purposes only and does not purport to be full or complete. This announcement is not a prospectus or prospectus equivalent but an advertisement and investors should not subscribe for, or otherwise purchase, acquire, sell or dispose of any of the securities referred to in this announcement except on the basis of the information contained in the Prospectus published by the Company in connection with the Capital Raising.

No reliance may or should be placed by any person for any purpose whatsoever on the information contained in this announcement or on its accuracy or completeness. The information in this announcement is subject to change. Investors should not acquire any New Ordinary Shares referred to in this announcement except on the basis of the information contained in the Prospectus published by the Company in connection with the Capital Raising.

This announcement is for information purposes only and is not intended and does not constitute or form part of any offer or invitation to purchase or subscribe for, or any solicitation to purchase or subscribe for, any securities of the Company in any jurisdiction. No offer or invitation to purchase or subscribe for, or any solicitation to purchase or subscribe for the New Ordinary Shares will be made in any jurisdiction in which such an offer or solicitation is unlawful. The information contained in this announcement is not for release, publication or distribution to persons in the United States or any Excluded Territory, and should not be distributed, forwarded to or transmitted in or into any jurisdiction, where to do so might constitute a violation of local securities laws or regulations.

This announcement or any part of it does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in the United States or any Excluded Territory. No public offering of securities is being made in any such jurisdiction.

The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the 'Securities Act'), or under the securities laws or with any securities regulatory authority of any state or other jurisdiction of the United States, and accordingly may not be offered, sold, pledged or transferred, directly or indirectly, in, into or within the United States. There is no intention to register any portion of any offering in the United States or to conduct a public offering of securities in the United States.

The distribution of this announcement in and the offering of the New Ordinary Shares in certain jurisdictions may be restricted by law. No action has been taken by the Company, J.P Morgan Cazenove or any of their respective affiliates that would permit an offer of the New Ordinary Shares or possession or distribution of this announcement or any other offering or publicity material relating to the New Ordinary Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by the Company and J.P. Morgan Cazenove to inform themselves about and to observe any such restrictions. Any failure to comply with this restriction may constitute a violation of the securities laws of such jurisdictions.

J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove) is authorised by the Prudential Regulation Authority (the 'PRA') and regulated in the United Kingdom by the Financial Conduct Authority and the PRA. J.P. Morgan Cazenove is acting exclusively for the Company and no one else in connection with the Transaction or any other matter referred to in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded its clients nor for providing advice in relation to the Transaction or any other matter referred to in this announcement.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Analyst Recommendations on ENQUEST PLC
More recommendations
Financials (USD)
Sales 2021 1 162 M - -
Net income 2021 182 M - -
Net Debt 2021 1 140 M - -
P/E ratio 2021 3,36x
Yield 2021 -
Capitalization 582 M 582 M -
EV / Sales 2021 1,48x
EV / Sales 2022 1,40x
Nbr of Employees 885
Free-Float 78,6%
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Technical analysis trends ENQUEST PLC
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 4
Last Close Price 0,32 $
Average target price 0,47 $
Spread / Average Target 47,0%
EPS Revisions
Managers and Directors
Amjad Bseisu Chief Executive Officer & Executive Director
Jonathan Swinney Chief Financial Officer & Executive Director
Martin Joseph Houston Non-Executive Chairman
Philip Malcolm Holland Independent Non-Executive Director
Carl D. Hughes Independent Non-Executive Director
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