RNS Number : 9357O
Zephyr Energy PLC
30 June 2025
 

30 June 2025

 

Zephyr Energy plc

("Zephyr" or the "Company")

 

Director Subscription to raise £0.7 million

 

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) announces that further to the Placing announced on 25 June 2025, certain Directors, management and their affiliates have now subscribed for, in aggregate, 23,333,333 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at an issue price of 3 pence per new Ordinary Share (the "Issue Price"), conditional on the passing of the Resolutions at the General Meeting on 14 July 2025 (the "Director Subscription").

 

The Director Subscription raises £0.7 million (before expenses) for the Company and together with the Placing of 326,666,667 new Ordinary Shares at the Issue Price, details of which were announced on 25 June 2025, in aggregate £10.5 million (before expenses) has been raised for the Company.

 

Of the Director Subscription, 2,132,099 new Ordinary Shares have been subscribed for by certain employees of the Company and the following Directors have conditionally subscribed for a total of 21,201,234 new Ordinary Shares at the Issue Price:

 

Director/shareholder

Position

New Ordinary Shares being subscribed for

Total Ordinary Shares held on Admission

Percentage of   enlarged share capital on Admission

Origin Creek Energy LLC1

Controlled by Colin Harrington

          18,282,716

          177,237,262

8.44%

Colin Harrington1

Chief Executive Officer

            1,234,568

              2,688,504

0.13%

Rick Grant

Non-Executive Chairman

               617,284

              2,117,284

0.10%

Chris Eadie

Group Finance Director

            1,000,000

              8,229,640

0.39%

Gordon Stein

Non-Executive Director

                 33,333

              2,383,333

0.11%

Tom Reynolds

Non-Executive Director

                 33,333

              1,033,333

0.05%

 

1Rick Grant, the Non-Executive Chairman of Zephyr, and Colin Harrington, the Chief Executive Officer of Zephyr, are both shareholders and directors of Origin Creek Energy LLC ("OCE"), and Colin Harrington is indirectly the controlling shareholder of OCE. As a result, Colin Harrington's total interest in the Company including OCE on Admission will be 179,925,766 Ordinary Shares (representing approximately 8.565 per cent. of the issued share capital of the Company on Admission).

 

The FCA notification table in respect of these director dealings, made in accordance with the requirements of UK MAR, is appended further below.

 

Due to limits on the existing share authorities available to the Company the Placing comprised two tranches. The First Placing completed on 27 June 2025. The Director Subscription is expected to complete alongside the Second Placing on or around 15 July 2025 subject to the passing of the Resolutions at the General Meeting on 14 July 2025, details of which are set out in the announcement of 24 June 2025.

 

Admission to AIM

 

Application has been made to the London Stock Exchange for admission of the 151,594,765 Second Placing Shares and 23,333,333 Director Shares to trading on AIM ("Admission"), subject to, amongst other things, the passing of the Resolutions at the General Meeting. Admission is expected to occur on or around 15 July 2025 or such later time and/or date as the Bookrunners and the Company may agree (being in any event no later than 8.00 a.m. on 29 July 2025).

 

Total voting rights

 

Immediately following Admission, the Company will have 2,100,719,020 ordinary shares of 0.1p each in issue, each with one voting right.  There are no shares held in treasury. Therefore, the Company's total number of ordinary shares in issue and voting rights will be 2,100,719,020 and this figure may be used by shareholders from Admission 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.

 

Unless otherwise defined herein, definitions contained in this announcement have the same meaning as set out in the Company's announcement of 24 June 2025.

 

Contacts:

 

Zephyr Energy plc

Colin Harrington (CEO)

Chris Eadie (Group Finance Director and Company Secretary)

 

 Tel: +44 (0)20 7225 4590

Allenby Capital Limited - AIM Nominated Adviser

Jeremy Porter / Vivek Bhardwaj

 

 Tel: +44 (0)20 3328 5656

 

Turner Pope Investments - Joint Broker

James Pope / Andy Thacker 

 

Canaccord Genuity Limited - Joint Broker

Henry Fitzgerald-O'Connor / Charlie Hammond

 

Celicourt Communications - PR

Mark Antelme / Ali AlQahtani

 Tel: +44 (0)20 3657 0050

 

 

Tel: +44 (0)20 7523 8000

 

 

 

Tel: +44 (0) 20 7770 6424

 

 

Notes to Editors

 

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is a technology-led oil and gas company focused on responsible resource development in the Rocky Mountain region of the United States.  The Company's mission is rooted in two core values: to be responsible stewards of its investors' capital, and to be responsible stewards of the environment in which it works.

 

Zephyr's flagship asset is an operated 46,000-acre leaseholding located in the Paradox Basin, Utah. In addition to its operated assets, the Company owns working interests in a broad portfolio of non-operated producing wells across the Williston Basin in North Dakota and Montana. Cash flow from the Williston production will be used to fund the planned Paradox Basin development. In addition, the Board will consider further opportunistic value-accretive acquisitions. 

 

This Announcement is made in accordance with the Company's obligations under Article 17 of UK MAR and the person responsible for arranging for the release of this Announcement on behalf of Zephyr is Colin Harrington, Chief Executive Officer.   

 

Director/PDMR UK MAR disclosures

 

The following notification, made in accordance with the requirements of the UK Market Abuse Regulation, gives further details.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

 

Name

Position

Origin Creek Energy LLC

Controlled by Colin Harrington

Colin Harrington

Chief Executive Officer

Rick Grant

Non-Executive Chairman

Chris Eadie

Group Finance Director

Gordon Stein

Non-Executive Director

Tom Reynolds

Non-Executive Director

 

 

2

Reason for the notification

a)

Position/status

See above

 

b) 

Initial notification /Amendment

Initial notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Zephyr Energy Plc

b)

LEI

254900TAVH3MBZ1EMC29

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument 

Identification code

Ordinary shares of 0.1p each in Zephyr Energy Plc

  

Identification code (ISIN) for Zephyr Energy Plc ordinary shares of 0.1 pence each: GB00BF44KY60

b)

Nature of the transaction

Purchase of ordinary shares 

c)

Price(s) and volume(s)

Name

 Price(s)

Volume(s)

Origin Creek Energy LLC

3p

          18,282,716

Colin Harrington

3p

            1,234,568

Rick Grant

3p

               617,284

Chris Eadie

3p

            1,000,000

Gordon Stein

3p

                 33,333

Tom Reynolds

3p

                 33,333

 

d)

Aggregated information:

-      Aggregated volume

-      Price

N/A 

e)

Date of the transaction

30 June 2025

f)

Place of the transaction

London Stock Exchange, XLON

 

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