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i3 Energy - Issue of Equity / Grant of Warrants

i3 Energy plc, an independent oil and gas company with assets and operations in the UK, announces that further to its announcement on 8th November 2019 ('Liberator A2 and Funding Update'), it has now received subscriptions for 14,285,715 new ordinary shares in the Company at 35 pence per share from funds managed by Bybrook Capital LLP.


In addition, BP Oil International Limited, funds managed by Lombard Odier Investment Managers group, and James Caird Asset Management, being the investors other than Bybrook who participated in the Company's May 2019 Junior Loan Notes, all took up their contractual rights to be granted warrants to subscribe for new ordinary shares in the Company (the "New Warrants") in relation to the grant to Bybrook of warrants to subscribe for up to 8 million new ordinary shares in the Company, at an exercise price of 40 pence per share, as announced on 8th November 2019 (the "Bybrook Warrants").  The New Warrants are on the same terms as the Bybrook Warrants and have been granted over 1,503,798 new ordinary shares in the Company.


Application has been made for 14,285,715 new ordinary shares in the Company to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 9th December 2019. Following Admission, the Company will have in issue: 107,719,400 ordinary shares of £0.0001 each, and 5,000 deferred shares of £10.00 each. Shareholders may use this figure of ordinary shares as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

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