Chariot Oil & Gas Raises USD2.5 Million Via Share Open Offer (ALLISS)

27th Mar 2018 13:26

LONDON (Alliance News) - Chariot Oil & Gas Ltd said Monday it has raised USD2.5 million in gross proceeds from a previously announced share open offer.

The company has received valid acceptances in respect of 13.9 million open offer shares, representing 41% of the maximum open offer shares available.

Larry Bottomley, the company's chief executive officer, subscribed to 241,000 open offer shares. He now owns 795,446 shares, representing 0.2% of the company's enlarged share capital.

In February, the oil and gas exploration company said it has raised USD15 million via a separate placing of 82.6 million new ordinary shares at 13 pence per share. It also proposed to raise up to a further EUR5.0 million, or GBP4.4 million, via an open offer for 33.6 million shares at the same price.

Shares in Chariot Oil were up 0.1% at 12.96 pence.

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