ORCP Oracle Power Plc

TIDMORCP

RNS Number : 6451T

Oracle Power PLC

26 November 2021

26 November 2021

Oracle Power PLC

("Oracle" or the "Company")

Exercise of Warrants by HH Sheikh Ahmed Bin Dalmook Juma Al Maktoum

Oracle Power PLC ( AIM:ORCP ), the international natural resources project developer, is pleased to announce that it has received a notice, from the private office of His Highness Sheikh Ahmed Bin Dalmook Juma Al Maktoum ("HH Private Office"), to exercise its warrants to subscribe for 200 million new ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares") at a price of 0.25 pence per share. The exercise of these warrants amounts to a total cash subscription of GBP500,000.

Application has been made to the London Stock Exchange plc for the admission of the 200 million new Ordinary Shares to trading on AIM ("Admission"), which is expected to become effective at 8.00am on 29 November 2021. Following Admission, HH Private Office will hold 500 million Ordinary Shares, representing 19.25% of the Company's issued share capital.

Following Admission, the Company will have 2,597,325,712 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the figure of 2,597,325,712 can be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

CEO of Oracle, Naheed Memon, commented:

"I am delighted that Oracle continues to receive support from His Highness Sheikh Ahmed Bin Dalmook Juma Al Maktoum, as demonstrated by his increased shareholding in the Company. This further investment by His Highness, who is already a long-term strategic investor, underlines his confidence in Oracle's current direction as we continue to diversify and expand our portfolio, particularly, following our recent green hydrogen initiative. At the same time, Oracle continues to advance its existing high-quality interests of the two prospective gold licenses in Western Australia where the results of drilling are expected shortly."

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European (Withdrawal) Act 2018.

*ENDS*

For further information on Oracle Power Plc, visit the Company's website http://www.oraclepower.co.uk or contact:

Oracle Power PLC

Naheed Memon - CEO +44 (0) 203 580 4314

Strand Hanson Limited (Nominated Adviser)

Rory Murphy, James Harris, Rob Patrick +44 (0) 20 7409 3494

Brandon Hill Capital Limited (Joint Broker)

Oliver Stansfield +44 (0) 203 463 5000

Shard Capital (Joint Broker)

Damon Heath, Isabella Pierre +44 (0) 20 7186 9952

St Brides Partners Limited (Financial PR)

Susie Geliher, Catherine Leftley +44 (0) 20 7236 1177

About Oracle Power PLC

Oracle Power PLC is an international natural resource and power project developer quoted on London's AIM market. The Company holds two highly prospective gold assets in two globally significant gold regions of Western Australia. The Northern Zone Project is located 25km east of the major gold mining centre of Kalgoorlie, the home of the 'Super Pit' mine, the second largest gold mine in Australia, and the Jundee East Gold Project is located c.9km east of Northern Star's Jundee Gold Mine, one of Australia's largest gold mines.

The Company is also active in the power industry in Pakistan and is working to establish a green hydrogen production facility in association with PowerChina. The Company's initial project is the Thar Block VI Project in south-east Pakistan where the Company is advancing plans for a combined lignite coal mine, a 1,320MW mine mouth power plant and a proposed coal gasification to urea project.

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