IN BRIEF: Pennpetro Energy aims to raise equity to complete Texas deal
30th Dec 2024 10:10
Pennpetro Energy PLC - Texas-focused oil and gas company - Seeks to place 8 million new shares in a tender offer to be managed by broker Peterhouse Capital that will have a minimum price of 9 pence per share. At that price, 8 million shares would raise GBP720,000. This follows an equity raise of GBP120,000 at 12p at the end of November, which Pennpetro notes was a premium to the stock's closing price of 9.55p prior to trading being suspended at the end of July. The trading suspension is due to late accounts for its financial year that ended March 31. Read More