6th Dec 2019 17:54
(Alliance News) - i3 Energy PLC on Friday said it has now received subscriptions for GBP5 million worth of new shares from funds managed by Bybrook Capital LLP.
Shares in oil and gas company i3 closed up 52% at 19.00 pence in London.
The subscription, announced November 8, is for 14.3 million shares at 35 pence each and these are set to be admitted on or around Monday next week.
Further, BP Oil International Limited, James Caird Asset Management, and funds managed by Lombard Odier Investment Managers group - investors other than Bybrook who participated in its May 2019 junior loan notes - all took up their rights to be granted warrants to subscribe for new i3 shares in relation to the 8.0 million share warrants granted to Bybrook.
The Bybrook warrants have a 40 pence per share exercise price, and so do the new warrants which have been granted to the three companies over 1.5 million new shares.
By Anna Farley; [email protected]
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