By Sheri Kasprzak
New York, Dec. 7 - Egdon Resources plc said it has completed a private placement for £4,999,500.
The company issued 5,555,000 shares at 90p each to new and existing institutional investors and three of the company's directors - Walter Roberts, Kenneth Ratcliff and John Rix.
Seymour Pierce Ltd. was the placement agent.
Proceeds will be used for drilling and exploration expenses.
Based in Odiham, England, Egdon is a natural gas exploration and storage company.
| Issuer: | Egdon Resources plc
|
| Issue: | Stock
|
| Amount: | £4,999,500
|
| Shares: | 5,555,000
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| Price: | 90p
|
| Warrants: | No
|
| Placement agent: | Seymour Pierce Ltd.
|
| Settlement date: | Dec. 7
|
| Stock price: | 87p at close Dec. 6
|
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