4th Feb 2022 11:34
Angus Energy PLC - UK-focused onshore oil and gas producer - Raises GBP1.4 million through placing of 175 million shares at price of 0.8 pence each, a 20% discount to closing price of 1.02p on Wednesday. Will use proceeds towards an increased contingency for Saltfleetby budget, which is now 90% finalised, and geothermal subsurface and potential site acquisition work, as well as general working capital. The new shares will constitute 14% of the enlarged share capital of 1.27 billion shares.
Angus Energy also announced that it has granted an extension to Sound Energy PLC in its formal sales process, pushing back the deadline by which Sound Energy is required to make an offer or withdraw from the process to March 11.
Current stock price: 0.82 pence, down 18% on Friday morning
12-month change: down 24%
By Elizabeth Winter; [email protected]
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Sound EnergyAngus Energy