4th Dec 2023 09:33
Dial Square Investments PLC - Manchester-based investment vehicle - Expects to soon complete reverse takeover of EnergyPathways Ltd, and to change name to EnergyPathways PLC. First dealings on AIM under new name anticipated on or around next week Thursday. Dial Square intends to raise at least GBP2 million through a private placement to complete the acquisition and readmission to trading on AIM. Will use net proceeds to progress the offshore UK Marram gas project through to the final investment decision in 2024, targeting first gas in 2025. EnergyPathways currently holds a 100% operated interest in the block containing the Marram gas field.
Dial Square's Non-Executive Chair Neil Cousins says: "EnergyPathways'...value upside potential is clear to see from the Marram project economics. We were also attracted to their near-term news flow pipeline which provides plenty of scope for new and existing investors to benefit from progress towards FID and the award of additional and complementary licences."
Current stock price: Suspended, last closed at 3.25 pence on March 10
12-month change: down from 750.00p
By Emma Curzon, Alliance News reporter
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