Fed’s Powell opens door to potential rate cuts at Jackson Hole
LONDON - Oil and gas company Rockhopper Exploration plc (AIM:RKH) has published a circular to shareholders regarding its previously announced conditional $140 million placing and proposed open offer, according to a press release statement issued Today.
The circular contains details of resolutions relating to the fundraising and includes a notice for a general meeting scheduled for September 16 at The Clubhouse in Salisbury, Wiltshire at 10:00 a.m.
Rockhopper, which holds key interests in the North Falkland Basin, initially announced the conditional placing and open offer on July 31. The company stated that if shareholders do not approve the conditional placing resolution at the general meeting, the anticipated net proceeds of the capital raising would be reduced by approximately $25 million.
The directors have recommended that shareholders vote in favor of the resolutions, noting that failure to approve them would prevent the company from proceeding with the open offer. This would mean existing shareholders would lose the opportunity to subscribe for ordinary shares at the issue price of 53 pence per share.
According to the announcement, the open offer is expected to be formally launched following Final Investment Decision (FID), which is anticipated to occur by the end of 2025.
The circular has been posted to shareholders who have elected to receive hard copies of documentation and has also been published on the company’s website.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.