ADX Energy Ltd (ASX:ADX) has announced the opening of its renounceable rights issue, initially advised on 2 November 2026, with the prospectus now dispatched to eligible shareholders. The company, an ASX-listed entity focused on oil and gas production and exploration in Europe, operates production in Austria and holds an extensive exploration portfolio across Austria and the Sicily Channel, Offshore Italy. This capital raising aims to secure up to $5.2 million, primarily to fund critical production enhancement and drilling activities across its European assets.
Under the terms, eligible shareholders can subscribe for two new fully paid ordinary shares for every five existing shares held on the record date of Thursday, 5 November 2026, priced at 1.2 cents each. For every two new shares subscribed, shareholders will receive one free attaching new option. These new options will have an exercise price of 2.5 cents, expire on 31 December 2028, and ADX intends to apply for their quotation on the ASX. The renounceable nature allows trading of rights under ASX code ADXR, and application for additional shares and options. All company directors intend to participate.
Funds are earmarked for several strategic projects to enhance the company’s operational capacity and resource development. Key initiatives include production enhancement well work in the Vienna Basin, Phase 2 production testing for the HOCH-1 gas discovery well, and the drilling, testing, and completion of the GOLD-1 shallow gas well. Eligible shareholders in Australia, New Zealand, Singapore, Monaco, or the United Kingdom received their prospectus and personalised entitlement forms today. The rights issue is open and is scheduled to close at 5:00pm (AWST) on Wednesday, 25 November 2026, unless extended. Rights trading ceases on 18 November 2026.
