Venture Equity Bulgaria EAD (“Venture Equity”) announced that it has acquired 1,842,862 common shares (“Shares”) of SouthernEnergyCorp . (“Southern”) between November 2, 2022 and December 16, 2022.
Acquisition of shares
Venture Equity acquired ownership of 1,842,862 shares, representing approximately 1.33% of the currently issued and outstanding shares. Immediately prior to the acquisition, Venture Equity, together with Svetoslav Bojilov, held 13,733,372 shares, representing approximately 9.95% of the issued and outstanding shares.
Following the completion of this acquisition, Venture Equity, together with Svetoslav Bojilov, owns or controls a total of 15,576,234 shares, representing approximately 11.28% of the currently issued and outstanding shares.
Acquisition of securities for investment purposes
The securities were acquired in several transactions through the facilities of the TSX Venture Exchange (“TSXV”) and the AIM Market of the London Stock Exchange (“AIM”) at prices ranging from C$0.746 to C$1.117 per share for a total purchase price of approximately C$1.79 million. Venture Equity has acquired the securities for investment purposes and may acquire additional shares or divest its shares depending on the investment conditions. Southern is listed on the TSXV under the symbol “SOU” and on AIM under the symbol “SOUC”.
Impact of the acquisition
This acquisition of shares could have a significant impact on the governance of SouthernEnergyCorp. Although Venture Equity holds only a small stake in the company, the acquisition could pave the way for the company’s greater involvement in Southern’s strategy.
In addition, this acquisition may also indicate Venture Equity’s confidence in the future growth of SouthernEnergyCorp and the U.S. natural gas production and exploration industry.
