Proceeds used to buy production equipment for Garden Hill South site
By Devika Patel
Knoxville, Tenn., April 11 - Enegi Oil plc said it completed a £2.93 million private placement of shares. Cenkos Securities plc was the broker.
The company sold 19.5 million ordinary shares at 15p each. The price per share is a 17.81% discount to the April 10 closing share price of 18.25p.
Proceeds will be used primarily to purchase additional production equipment for the Garden Hill South site to enable the company to move quickly into the production phase.
Enegi is a Manchester, England-based hydrocarbon exploration company.
| Issuer: | Enegi Oil plc
|
| Issue: | Ordinary shares
|
| Amount: | £2,925,000
|
| Shares: | 19.5 million
|
| Price: | 15p
|
| Warrants: | No
|
| Broker: | Cenkos Securities plc
|
| Settlement date: | April 11
|
| Stock symbol: | London: ENEG
|
| Stock price: | 18.25p at close April 10
|
| Market capitalization: | £19.38 million
|
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