LGO Energy raises 1m pounds for Trinidad businesses

LGO Energy has raised £1m before expenses through the placing of 111.1m shares at 0.9p per share.

The company said the funds will largely be deployed as additional working capital in LGO's Trinidad businesses including initiating work on the recently announced Goudron Sandstone program at LGO's flagship Goudron Field development.

In addition, it said application is being made for the admission of these placing shares to trade on AIM and it is expected that this will occur on or before 14 October 2015.

At 0922 BST, LGO shares were down 12.1% at 0.92p.