6th Feb 2015 07:55
LONDON (Alliance News) - Anglo Pacific Group PLC on Friday said it has raised GBP39.5 million via a placing and open offer as part of its deal to buy a royalty interest on coal sales from an Australian coal mine.
Anglo said it placed 49.4 million shares at 80 pence per share. Its shares closed at 83 pence on Thursday.
The money raised in the placing is being used to part fund the acquisition of a royalty interest in the Narrabri coal project in Australia for GBP65 million. The royalty entitles the holder to royalty payments equal to 1% of gross revenue on all coal produced from the area covered by the royalty.
By Sam Unsted; [email protected]; @SamUAtAlliance
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