10th Oct 2013 13:58
LONDON (Alliance News) - Altona Energy PLC Thursday said it has entered into a placing agreement with Wintask Group Ltd to raise GBP3.2 million.
The AIM-listed Australian energy company said that the funds raised in the placement of 230 million shares at 1.4 pence would be used to provide additional working capital for the company.
The company said the placement is split into two tranches, the first to raise GBP835,800 is to be issued on or before October 31. The second tranche will take place on or before December 31.
Altona Energy shares were up 4.8% to 1.415 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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