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Dial Square Investments PLC on Thursday said it will raise £2.0 million as part of its reverse takeover of EnergyPathways Ltd and subsequent relisting.
The Manchester-based investment vehicle in November said it would move to AIM from London’s Main Market and rename itself as EnergyPathways PLC following the acquisition of the company, which has a 100% interest in block 110/4a of seaward licence P2490 that contains the Marram gas field.
This offshore field, discovered in 1993, is close to existing infrastructure in UK waters, west of the UK mainland. The asset is considered ’ready-to-go’, and EnergyPathways is targeting first gas in 2025.
Dial Square said it will have a £6.3 million market capitalisation on admission. The expected admission date is next week Wednesday.
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