NewTimeSpace News:GEO ENERGY RESOURCES LIMITED released an announcement on March 5, 2026, disclosing the placement of its ordinary shares. According to the announcement, the company has entered into a placement agreement with KGI Securities (Singapore) Pte Ltd on March 4, appointing the latter as the placement agent.

The announcement specified that the subject of the proposed placement is 35 million new ordinary shares of the company at a maximum. The placement price is set at SGD 0.425 per share, and the maximum gross proceeds will reach SGD 14.875 million if the entire placement is completed.

In terms of the use of proceeds, after deducting the estimated fees and expenses of approximately SGD 550,000, the proposed placement is expected to raise a net proceeds of about SGD 14.325 million. GEO ENERGY RESOURCES LIMITED plans to allocate 100% of the net proceeds to working capital.

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