4th Jun 2015 09:35
LONDON (Alliance News) - Xplorer PLC Thursday said it has raised GBP99,000 via a share issue to back a planned acquisition of African oil and gas assets.
The AIM-listed investing company said it has issued 1.2 million shares at 8 pence per share. Xplorer shares are currently suspended.
Shares in the company were suspended in December after it said it had entered talks to buy oil and gas assets in Africa in a deal which would constitute a reverse takeover. It said the talks are now focusing on one assets, in Morocco, due to the fall in the oil price.
By Sam Unsted; [email protected]; @SamUAtAlliance
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