By Devika Patel
Knoxville, Tenn., Jan. 26 - JKX Oil & Gas plc said it raised £37.78 million in a private placement of shares.
The company sold 14,257,270 ordinary shares at 265p each. The placing price represents a 4.7% discount to the closing middle market price of 278.2 pence on Jan. 25.
Oriel Securities and Brewin Dolphin were the joint bookrunners.
Proceeds will be used to accelerate development of existing 2P reserves, appraise contingent resources at the Rudenkovskoye field and continue the well workover program in Russia.
JKX Oil & Gas is an oil and gas exploration and production company in London.
| Issuer: | JKX Oil & Gas plc
|
| Issue: | Ordinary shares
|
| Amount: | £37,781,766
|
| Shares: | 14,257,270
|
| Price: | 265p
|
| Warrants: | No
|
| Bookrunners: | Oriel Securities and Brewin Dolphin
|
| Settlement date: | Jan. 26
|
| Stock symbol: | London: JKX
|
| Stock price: | 277.5p at close Jan. 26
|
| Market capitalization: | £437 million
|
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