Path Investments £3.5 million Equity Fundraise

Investment

Path Investments plc (LON:PATH), the energy and natural resources investment company, has announced that it has conditionally raised (before expenses) £3,500,000 by way of a subscription and placing of 1,400,000,000 new ordinary shares of 0.1 pence each in the Company at a price of 0.25 pence per Ordinary Share.

The proceeds of the Fundraise will be used to support the Company’s continuing investment strategy, as outlined in the Company’s prospectus published in March 2017, which is to own and operate a diversified portfolio of long-life assets and has a particular focus on cost reduction, the enhancement of returns from development opportunities and the reduction of the carbon intensity of assets that it acquires, as well as seeking to considerably extend the useful life of such assets.

In addition, participants in the Fundraise will be issued with one warrant for every two Placing Shares subscribed for with an exercise price of 0.25 pence per Ordinary Share and one warrant for every two Placing Shares subscribed for with an exercise price of 0.5 pence per Ordinary Share. The Warrants will have a five-year exercise period from the date of grant.

The Fundraise is conditional on the publication of a prospectus and admission of the Placing Shares to trading on the Standard Segment of the Official List and the Main Market of the London Stock Exchange. The prospectus is currently being prepared and will be published following the grant of the required Financial Conduct Authority (“FCA”) approval.  In the interim, the Company’s existing issued shares shall continue to trade and the expected date of Admission will be announced in due course.

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Appointment of Broker

The Company is pleased to announce the appointment of Monecor (London) Ltd, trading as ETX Capital, as the Company’s Broker with immediate effect.  ETX Capital have assisted the Company with the Fundraise.

Commenting, Christopher Theis CEO of Path Investments, said: “We are delighted with the support we have received for the Fundraise.  We look forward to concluding the prospectus approval process in the coming weeks and believe that the proceeds from the Fundraise will help facilitate our search for acquisition opportunities in line with our investment strategy.  I look forward to providing further updates in due course.”

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