12th Jun 2020 12:07
(Alliance News) - Path Investments PLC said Friday it has raised GBP184,000 through an oversubscribed placing, which will go towards funding the exploitation of the commercial benefits of Path's recent acquisition of DT Ultravert and the Kansas nitrogen reserves.
The energy and natural resources investment firm issued 24.2 million shares at 0.75 pence per share, and sold 357,142 shares held in treasury.
Shares in Path Investments are currently suspended in London. Keith, Bayley, Rogers & Co acted as the sole placing agent.
In addition, Path has made an application to have the suspension of its shares lifted on the London Main Market, and expects readmission to take place on June 23.
Due to the Covid-19 outbreak, Path Investments said it will be unable to complete and publish its annual results by the end of June. The company has been granted an extension to delay the filing of its 2019 accounts until the end of September.
Path Investments now has 220.1 million shares overall.
By Dayo Laniyan; [email protected]
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