Helium One Global Ltd - Tanzanian-focused producer of low-carbon helium - Plans to raise minimum £8.0 million via placing and direct subscription at 0.50 pence per share. The placing will be conducted through an accelerated bookbuild process to be undertaken by Liberum Capital Ltd and Zeus Capital Ltd acting as joint bookrunners and Axis Capital Markets acting as placing agent. The placing will be made to certain existing shareholders and other institutional and high net worth investors. All directors of the company and certain members of management will participate in the subscription up to £35,000. Proceeds will be utilised to complete an extended well test on Itumbula West-1 to evaluate commercial flow rates of helium prior to the development phase, as well as providing additional funds for operational contingency.
Current stock price: 1.10 pence
12-month change: down 84%
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