Greenland Energy proposes all-share merger with 80 Mile plc valuing it at £61.48M

Greenland Energy Co

Consideration: 0.01108 new GLND shares per 80 Mile share; values 80 Mile at £61.48M (~1.1p/share).
Premium of 42.86% to 3 Sept close, 46.67% to 7 Sept close; 64.18% above July 2026 placing price.
GLND owns 4.42% of 80 Mile (246.77M shares) bought 25 Aug-3 Sep at avg 0.73p; offer, if made, ≥0.82p.
Deal consolidates 100% Jameson Land licences; 2025 Sproule ERCE estimate 13.03B bbl (P10) oil; Dundas ilmenite 117Mt @ 6.1%.
No firm offer yet; Rule 2.6 deadline 6 Oct 2026. GLND cash $37.4M (30 Jun 2026); warrant plan $1.50 strike for GLND holders only.

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