8th Oct 2014 13:39
LONDON (Alliance News) - Oil and gas exploration company Lekoil Ltd Wednesday moved to shut down online media reports that it plans to issue USD37.5 million of equity in relation to the development of the Otakikpo Marginal Field, offshore Nigeria.
The company said it wished to make clear that it is "not undertaking an equity placement at present and the reports are erroneous and refer to events that occurred earlier this year in May."
In May the company raised USD37.7 million in a share placing of 33 million shares at 67.75 pence each.
Shares in Lekoil were trading down 3.15 at 63.00 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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