{"id":11621,"date":"2022-01-17T08:40:34","date_gmt":"2022-01-17T08:40:34","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=11621"},"modified":"2022-01-17T08:40:34","modified_gmt":"2022-01-17T08:40:34","slug":"zimbabwe-invictus-energy-cabora-bassa-securities-purchase-plan-increased-to-4m","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-cabora-bassa-securities-purchase-plan-increased-to-4m\/","title":{"rendered":"ZIMBABWE: Invictus Energy Cabora Bassa Securities Purchase Plan increased to $4m"},"content":{"rendered":"<p>Invictus Energy has provide an update on the capital raising activities to assist with the funding of its 80 per cent owned and operated Cabora Bassa Project in Zimbabwe.<\/p>\n<p>Securities Purchase Plan increased target of $3m reached On 10 January 2022 Invictus launched its Securities Purchase Plan (SPP) by lodgement with the ASX and ASIC of its SPP prospectus to raise up to $2m, with the SPP being open to all eligible shareholders per the record date of 24 December 2021.<\/p>\n<p>On 12 January 2022 due to overwhelming demand, the board of Invictus resolved to accept SPP oversubscriptions for an additional $1m, bringing the revised SPP total to $3m.<\/p>\n<p><strong>Supplementary Prospectus \u2013 SPP increased to $4m<\/strong><br \/>\nThe Company says it has continued to receive overwhelming support for the SPP and has agreed to increase the SPP to $4m, which represents an increase of 100% from original $2m cap. The increase necessitates the requirement for a supplementary prospectus that will be lodged with ASIC and ASX today.<\/p>\n<p><strong>SPP timetable and closing date<\/strong><br \/>\nIn accordance with the supplementary prosectus and the Company\u2019s SPP prospectus lodged on 10 January 2022, the board had the discretion to amend and alter the SPP timetable.<\/p>\n<p>Due to the overwhelming and unexpected demand for SPP securities the Company has agreed to close off the Plan early to avoid a material and significant return of funds and to prevent shareholders unduly having funds held in the Company\u2019s SPP trust account.<\/p>\n<p>Following feedback from the Company\u2019s advisers and shareholders, the Company\u2019s scale back methodology has been amended to a pro-rata basis (instead of 1st come-1st serve basis). All SPP applications received after the closing date will not form part of the SPP, all SPP applications received up to the new closing date of 18 January 2022 will be proportionally scaled back on a pro-rata basis based on the SPP application<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Invictus Energy has provide an update on the capital raising activities to assist with the funding of its 80 per cent owned and operated Cabora Bassa Project in Zimbabwe. Securities &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-cabora-bassa-securities-purchase-plan-increased-to-4m\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11],"tags":[10053,193,7808,7812,9731,10052,2767],"class_list":["post-11621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","tag-asic","tag-asx","tag-cabora-bassa","tag-invictus-energy","tag-muzarabani-1-well","tag-spp","tag-zimbabwe","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-31r","jetpack-related-posts":[{"id":11568,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-spp-total-increased-to-3-0m\/","url_meta":{"origin":11621,"position":0},"title":"ZIMBABWE: Invictus SPP total Increased to $3.0m","author":"","date":"January 12, 2022","format":false,"excerpt":"Invictus Energy has provided an update on the capital raising activities to assist with the funding of its 80% owned and operated Cabora Bassa Project in Zimbabwe. Securities Purchase Plan (SPP) $2m target reached on 10 January 2022 Invictus launched its SPP by lodgement with the ASX and ASIC of\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11696,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-funding-completed-for-rig-mobilisation-in-cabora-bassa-basin\/","url_meta":{"origin":11621,"position":1},"title":"ZIMBABWE: Funding Completed for Rig Mobilisation in Cabora Bassa Basin","author":"","date":"January 25, 2022","format":false,"excerpt":"HIGHLIGHTS \u2022 Placement and SPP funding raises $8m \u2022 $4m SPP oversubscribed and has closed \u2022 2-well drilling program planned for May 2022, with proceeds to be used to fund the mobilization of the Exalo #202 drilling rig and long lead items \u2022 Muzarabani-1 well targeting prospective resources of 8.2\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":13715,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-raises-12-7-million-for-high-impact-exploration-appraisal-program\/","url_meta":{"origin":11621,"position":2},"title":"ZIMBABWE: Invictus Raises $12.7 million for High Impact Exploration &#038; Appraisal Program","author":"","date":"June 1, 2023","format":false,"excerpt":"Invictus Energy has announced that its Share Purchase Plan (SPP) offer announced on 6 April 2023 has closed oversubscribed, with valid applications received from eligible shareholders amounting to$12.7 million. Due to the overwhelming support received by shareholders, the Board has exercised its discretion to increase the size of the SPP\u2026","rel":"","context":"In \"Cabora Bassa Basin\"","block_context":{"text":"Cabora Bassa Basin","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/cabora-bassa-basin\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/06\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/06\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/06\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11470,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-raising-5-5m-to-support-the-development-of-the-cabora-bassa-project\/","url_meta":{"origin":11621,"position":3},"title":"ZIMBABWE: Invictus Raising $5.5m to Support the Development of the Cabora Bassa Project","author":"","date":"December 30, 2021","format":false,"excerpt":"Invictus Energy has announced a Placement of $3.5m and Share Purchase Plan (SPP) of up to $2m to raise a total aggregate amount of up to $5.5m (Capital Raising). Invictus Managing Director Scott Macmillan commented: \u201cWe are pleased to offer our long-term and loyal shareholders the right to participate in\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Zimbabwe-Cabora-Bassa.jpg?fit=570%2C797&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":13657,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-energy-hopes-to-raise-up-to-a20m-to-fund-exploration-and-appraisal-work-in-cabora-bassa-basin\/","url_meta":{"origin":11621,"position":4},"title":"ZIMBABWE: Invictus Energy Hopes to Raise up to A$20m to fund exploration and appraisal work in Cabora Bassa basin","author":"","date":"May 3, 2023","format":false,"excerpt":"Invictus Energy has launched a Share Purchase Plan and the shortfall offer to raise up to A$10m to fund exploration and appraisal work in Zimbabwe's Cabora Bassa basin. Invictus had already raised $8,745,000 under the Placement and is also seeking shareholder approval at the General Meeting to raise a further\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":13556,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-raises-10m-to-fund-mukuyu-2-well-preparations-phase-2-exploration\/","url_meta":{"origin":11621,"position":5},"title":"ZIMBABWE: Invictus Raises $10M to Fund Mukuyu-2 Well Preparations &#038; Phase 2 Exploration","author":"","date":"April 12, 2023","format":false,"excerpt":"Invictus Energy has announced a private Placement to raise $10.0m, at $0.12 per share, following the Company\u2019s decision to advance preparations for an appraisal and exploration campaign in Zimbabwe\u2019s Cabora Bassa Basin. Comments from Managing Director Scott Macmillan:\u201cI am pleased with the backing Invictus has received from both existing and\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Zimbabwe-Mukuyu-lead-map.png?fit=756%2C373&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Zimbabwe-Mukuyu-lead-map.png?fit=756%2C373&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Zimbabwe-Mukuyu-lead-map.png?fit=756%2C373&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Zimbabwe-Mukuyu-lead-map.png?fit=756%2C373&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=11621"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11621\/revisions"}],"predecessor-version":[{"id":11622,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11621\/revisions\/11622"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8566"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=11621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=11621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=11621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}