Beacon Energy plc (LSE:BCE) has released an admission document detailing a proposed reverse takeover involving the acquisition of a substantial strategic stake in LNEnergy Limited. The transaction is paired with a conditional equity fundraising of £3.79 million through the issuance of 97,191,443 new shares priced at 3.9 pence each.
If completed, the enlarged share capital would total 124,790,040 shares, implying a post-admission market capitalisation of approximately £4.87 million. The company said the move is designed to secure access to proven reserves and accelerate its path toward production, representing a significant milestone in its expansion strategy.
The proposal is subject to shareholder approval at an extraordinary general meeting scheduled for 5 March 2026. Subject to approval, the readmission of the expanded share capital to AIM is expected on 6 March 2026, with definitive share certificates anticipated by 13 March.
Management cautioned that failure to pass the interdependent resolutions relating to both the acquisition and the fundraising would result in the transaction being abandoned. In such a scenario, the company warned that securing alternative financing or an alternative transaction in the near term would be unlikely, and its existing AIM listing could be cancelled, potentially leading to administration.
More about Beacon Energy plc
Beacon Energy plc is an AIM-listed oil and gas exploration and production company focused on upstream energy assets. The group seeks strategic acquisitions capable of delivering proven reserves, near-term production and value-enhancing catalysts, positioning itself as a small-cap energy player pursuing growth through deal-making and capital markets activity.
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