22nd Nov 2018 14:21
LONDON (Alliance News) - RockRose Energy PLC said Thursday it purchased GBP14.3 million worth of shares in a previously announced tender offer.
The oil & gas production company said 2.9 million shares were validly tendered under the tender offer and, as a result, 95.2% of the offer was subscribed. Following the tender offer, the company's share capital will be reduced to 12.6 million shares from 15.5 million shares.
In October, the company had said it wanted to purchase up to 20% of its outstanding shares as it believed the potential of the company's assets is not fairly represented in the current stock price. The company proposed to purchase up to 3.1 million shares through the tender offer at a price of 560 pence per share.
Shares in the company were trading 8.9% higher at 659.00p on Thursday.
Related Shares:
RRE.L