13th Jan 2016 16:15
LONDON (Alliance News) - Gulfsands Petroleum PLC said Wednesday that it raised GBP14.2 million in its recent open offer, with a total of 354.8 million shares subscribed for under the offer.
The company had offered shares at a price of 4.0 pence per open offer share, on the basis of 3.01 open offer shares for every one existing share held.
Gulfsands received valid acceptances for 151.76 million shares from shareholders, and a further subscription for 203.1 million shares by a company owned by a 'Mr.Griffiths', Waterford and Blake.
A number of non-executive directors subscribed for shares, with Andrew West applying for 421,833 shares, Andrew Morris for 240,800 shares, Joe Darby for 75,250 shares, and James Ede-Golightly applying for 60,200 shares. Following the subscription the non-executives shareholdings in the company were all less than 1.0%.
Shares in Gulfsands were untraded Wednesday afternoon. They last closed at 3.50 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
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