By Devika Patel
Knoxville, Tenn., Oct. 26 - Rockhopper Exploration plc said it will raise £50 million in a private placement of shares.
The company will sell 92,592,593 ordinary shares at 54p per share via agent Canaccord Adams.
Proceeds will be used for drilling, working capital and mobilization or demobilization of the Ocean Guardian and all other drilling related equipment.
Based in Salisbury, England, Rockhopper is an oil and gas exploration company.
| Issuer: | Rockhopper Exploration plc
|
| Issue: | Ordinary shares
|
| Amount: | £50 million
|
| Shares: | 92,592,593
|
| Price: | 54p
|
| Warrants: | No
|
| Agent: | Canaccord Adams
|
| Pricing date: | Oct. 26
|
| Stock symbol: | London: RKH
|
| Stock price: | 61p at close Oct. 26
|
| Market capitalization: | £51.9 million
|
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