20th Apr 2016 08:01
LONDON (Alliance News) - Oil and gas explorer 88 Energy Ltd on Wednesday said its Australia-listed shares have been placed on a trading halt, pending an announcement about a fundraising.
88 Energy said any such capital raising will be done using its existing authorities and will therefore not require shareholder approval.
No terms for the fundraising have been agreed, and there is no certainty the plans will go ahead, 88 Energy said.
Shares in the company remain trading on AIM in London and were down 4.4% to 2.06 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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