5th Sep 2023 16:50
Oneiro Energy PLC - London-based special purpose acquisition company focused on energy transition, primarily away from oil - Appoints Andrew Yeo as non-executive chair. Says Robert Jones remain on the board as a non-executive director. Says Yeo has "significant expertise" in the oil and gas sector. Notes Yeo currently serves as chief executive officer of AIM-quoted Baron Oil PLC and has held a variety of roles in private equity, alongside operational and financial experience in exploration and production activities whilst serving as chief financial officer of Wessex Exploration PLC.
Says Yeo will receive 1.5 million warrants to subscribe for company ordinary shares at a price of 10 pence each. Says these warrants will only be issued upon successful completion of a reverse takeover and will have a term of 3 years from the admission to trading of the shares following the reverse takeover.
Also notes that shares have been restored to trading on Main Market in London after publication of its annual results on Friday last week.
Current stock price: 11.75 pence, up 6.8%
12-month change: down 98%
By Greg Rosenvinge, Alliance News reporter
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