Longspur Clean Energy - Star Energy - Fundraise Secures £8.5m

6 hours ago

Research on Star Energy Group PLC (STAR:LON) from Longspur Clean Energy

Star Energy has announced the result of the placing launched yesterday, which has successfully raised approximately £8.5m of gross proceeds through the issue of 56,716,664 new ordinary shares, marginally above the £8.4m indicated at launch, reflecting good engagement from institutional investors. The director subscription totals £31,000 and the retail offer remains open for up to £0.6m, with the 15p issue price representing a 9.2% discount to the 16.25p closing price on 30 April 2026. A General Meeting has been convened for 18 May 2026, with admission of the new shares to AIM expected on 19 May 2026. This sets the business up for growth in its core UK markets, following a period of cost and operational rebasing.

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Longspur Clean Energy - Star Energy - Fundraise Secures £8.5m