UK 22:32 Monday, 21 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Will private investors on AIM ever learn? This morning 88 Energy (88E) raised A$3million at 0.47p, a mere 24% discount to where the stock opened on Monday. The company also announced a first come first serve Share Purchase Plan (SPP) to raise up to €4,999,999 from existing eligible shareholders. Under the terms of this, retail holders of 88 Energy are allowed to purchase parcels of up to A$15,000 worth of stock on the same terms as the placement participants. No doubt people will fall over themselves to take up this deal, but if the company has such great prospects why the steep discount?
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Comments
wildrides
Seems I was correct to bail before TD after all .
Gary Newman
Ben,
I was under the impression that the rebate is already decided and is how the BoA calculated the share that 88E would have to pay towards the drill costs? That is my reading of it anyway and the only reason they got a BoA facility of that size in the first place.
I’m still holding – but was only ever a punt for me anyway and based on the sort of numbers we might see from the HRZ (regardless of how commercial it actually ends up being).
It is also interesting that they have been albe to raise that amount of money at this stage of the drill (it was done at the same price as the previous placing) as those taking up the placing will have no chance of offloading the lot before TD is hit. I certainly wouldn’t take part in any placing at this stage of a drill unless i was very confident of the outcome!
I think this deposit that has been paid on extra acreage is basically a hedge – if the HRZ comes in with good date then they’ll take the acreage and pay the full amount. If not then they’ll most likely write-off the deposit.