IN BRIEF: Sunda Energy eyes GBP5.6 million raise for New Zealand deal
Sunda Energy PLC - Asia-Pacific-focused oil and gas company - Raises GBP5.3 million from the sale of 350.0 million new shares at 1.5 pence each in a placing and subscription. A retail offer of 35.0 million additional shares at the same price could bring in up to GBP525,000 more for GBP5.6 million in total. The placing is run by Allenby Capital Ltd and H&P Advisory Ltd as brokers, and the direct subscribers include company directors. The money will be used to complete payment for the acquisition of Matahio Energy NZ Ltd, which brings in producing assets on the west coast of New Zealand's North Island, and for the company's interests in Timor-Leste and the Philippines. Sunda plans to call a general meeting on or around October 8 for shareholders to approve the equity raise. Sunda shares are restored to trading on AIM in London on Tuesday, having been suspended earlier this month, using the capital access window facility. Read More