23rd Dec 2019 18:12
(Alliance News) - Andalas Energy & Power PLC on Monday said it has raised GBP250,000 through a share placing to fund the development of its oil and gas assets.
The firm, which has assets in the UK and Indonesia, placed 166.7 million shares at a price of 0.15 pence each, a 6.3% discount to its 0.16p closing price on Friday.
The stock closed untraded at 0.16p apiece in London on Monday.
Andalas said: "The net proceeds of the placing will be used to further the company's exploration and development activities and for general working capital."
By Eric Cunha; [email protected]
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