By Devika Patel
Knoxville, Tenn., May 15 - Maple Energy plc announced it has arranged a £12.75 million, or $25 million, private placement of shares.
The company will sell 7,967,061 shares at 160p apiece.
Mirabaud Securities Ltd. is the agent. Settlement is expected May 21.
Proceeds will be used to repay debt used to acquire an additional 3.1% economic and voting interest in Aguaytia Energy, LLC and to fund certain capital expenditures associated with Maple Energy's proposed ethanol project in Peru.
Dublin-based Maple Energy is an independent energy company with operations in Peru.
| Issuer: | Maple Energy plc
|
| Issue: | Ordinary shares
|
| Amount: | £12.75 million
|
| Shares: | 7,967,061
|
| Price: | 160p
|
| Warrants: | No
|
| Agent: | Mirabaud Securities Ltd.
|
| Pricing date: | May 15
|
| Settlement date: | May 21
|
| Stock symbol: | London: MPLE
|
| Stock price: | 164p at close May 14
|
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