Energean PLC - hydrocarbon exploration and production company focused on projects in the Mediterranean and UK North Sea - Kerogen Investments No.38 Ltd, and affiliate of Kerogen Capital, sells 4.4 million Energean shares.
This represents roughly 2.4% of Energean shares and were placed at a price of 935 pence each, raising gross proceeds of £41.3 million. The placing shares result from Kerogen’s conversion of $50 million outstanding into ordinary shares under the convertible notes issued by Energean to Kerogen in February 2021, ahead of the final repayment date of December 29 this year. Settlement of the shares is expected to occur December 21, following the conversion of convertible notes into shares. Stifel Nicolaus Europe Ltd acted as sole bookrunner in the sale.
Current stock price: 960.00 pence each, down 2.5% in London on Wednesday morning.
12-month change: down 27%
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