Offering proceeds to be used as working capital for assets in India
By Devika Patel
Knoxville, Tenn., Dec. 22 - Hardy Oil and Gas plc said it has negotiated and settled a private placement of shares. The deal priced for £6.77 million on Wednesday and raised the full amount a few hours later. It was fully underwritten by Arden.
The company sold 3.37 million ordinary shares at 201p each. The per-share price is a 5.63% discount to the Dec. 21 closing share price of 213p and to the closing middle market price of 213p on Dec. 21.
Proceeds will be added to the company's working capital and used for the ongoing capital program on Hardy's assets in India.
Hardy is an oil and gas company based in London.
| Issuer: | Hardy Oil and Gas plc
|
| Issue: | Ordinary shares
|
| Amount: | £6,773,700
|
| Shares: | 3.37 million
|
| Price: | 201p
|
| Warrants: | No
|
| Agent: | Arden
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 22
|
| Stock symbol: | London: HDY
|
| Stock price: | 201p at close Dec. 22
|
| Market capitalization: | £145.97 million
|
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