11th Feb 2014 11:32
LONDON (Alliance News) - Egdon Resources PLC Tuesday said it has completed the placing of 12 million new shares at 25 pence per share, raising roughly GBP3.0 million.
The onshore hydrocarbon exploration and development company said the proceeds will be used to strengthen its working capital position ahead of drilling operations in the East Midlands, England.
Egdon Resources shares were down 7.3% to 27.12 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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