Angus Energy raises £7.09m in discounted share placing
Angus Energy
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10:50 18/11/24
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Angus Energy said on Monday that it has raised £7.09m in a discounted share placing, partly for the acceleration of field development and production.
FTSE AIM All-Share
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11:15 18/11/24
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The funds will also be used for the development of storage at its Saltfleetby facility and to cover cost overrun and hedge payments.
The company raised gross proceeds of £1.89m through the placing of 115m ordinary shares, and £3.7m through the issue of just over 226.21m shares at 1.65p a share.
It has also conditionally raised a further £1.5m through a subscription of just over 89.78m shares, also at 1.65p per share.
The fundraising price represents a discount of around 11% to the closing share price on Friday.
At 1240 GMT, the shares were down 18.4% at 1.52p.