Harbour Energy plc (the “Company” or “Harbour”)
Proposed share consolidation
19 May 2021

As separately announced today, the Company has issued a notice convening the Company’s 2021 Annual General Meeting (‘AGM’) to be held on 23 June 2021. One of the resolutions being proposed at the AGM will seek approval to implement a 20:1 share consolidation.

As a result of the recent merger, the Company has a very large number of ordinary shares of 0.0001 pence each in issue (the ‘Existing Ordinary Shares’). The Directors are therefore proposing to consolidate the Company’s existing share capital on the basis described below (the ‘Share Consolidation’) into new ordinary shares of 0.002 pence each (the ‘New Ordinary Shares’) with the intention that, following such consolidation, the number of shares in issue and the likely share price will be more appropriate for a company of Harbour’s size in the UK market.

The effect of the Share Consolidation will be that shareholders on the Company’s register of members at 6:00pm on 24 June 2021 will, on the implementation of the Share Consolidation, hold 1 New Ordinary Share of 0.002 pence each for every 20 Existing Ordinary Shares of 0.0001 pence each.

As further explained in the notice of the AGM, fractional entitlements arising from the Share Consolidation will be aggregated and sold in the market. The proceeds of such sale of fractional entitlements will be retained by the Company and donated to a charity of the Company’s choosing in due course.

Requests will be made to the Financial Conduct Authority for the New Ordinary Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange and for the New Ordinary Shares to be admitted to trading on the London Stock Exchange’s Main Market for listed securities.

It is expected that the New Ordinary Shares arising from the Share Consolidation will be admitted to listing and trading from 8:00am on 25 June 2021 with ISIN number GB00BMBVGQ36.

Daniel Rose, Deputy Company Secretary             Tel: +44 (0)20 7824 1014
Elizabeth Brooks, Head of Investor Relations      Tel: +44 (0)20 7824 1116