Beacon Energy PLC has announced a conditional offer for subscription of new Ordinary Shares via PrimaryBid. The Issue Price for the new Ordinary Shares is 0.05 pence per new Ordinary Share, representing a discount of approximately 28 per cent. to the closing middle market price of 0.07 pence per existing Ordinary Share on 27 February 2024. Investors can participate through PrimaryBid's network of retail brokers, wealth managers, and investment platforms, subject to such partners' participation. The offer is available to both existing shareholders and new investors, with a minimum subscription of £500 per investor.

The PrimaryBid Offer is conditional on the new Ordinary Shares being admitted to trading on AIM, expected to take place at 8.00 a.m. (London time) on 5 March 2024. The gross proceeds of the Placing and the PrimaryBid Offer, combined with the Company's existing unrestricted cash, will be used for drilling and completion of the side track, payment of outstanding costs related to the SCHB-2(2.) well, and general working capital.

The Company values its retail investor base and is providing retail investors with the opportunity to participate in the PrimaryBid Offer. Existing shareholders and new investors can access the offer through PrimaryBid's partner network of investment platforms, retail brokers, and wealth managers. The offer will open to investors resident and physically located in the United Kingdom and is expected to close at the same time as the Placing, with a minimum subscription amount of £500 per investor.

The Company believes that the separate PrimaryBid Offer is in the best interests of shareholders and wider stakeholders. The PrimaryBid Offer is expected to close at the same time as the Placing and may close early if oversubscribed.