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LONDON (Alliance News) - Clontarf Energy PLC said Monday it has raised GBP121,500 through the placing of 16.2 million new shares at a price of 0.75 pence per share.
Shares in Clontarf were trading up 5.1% at 1.02 pence Monday morning.
Clontarf is an exploration and production company focused on Africa and South America.
Additionally, it said it also agreed to issue 9.1 million shares to a creditor, and, as reported earlier Monday, intends to issue a further 70.3 million shares to repay director loans and accrued remuneration totalling GBP409,382 and GBP117,888 respectively at the same price.
The director's loan shares will be issued as follows:
Director | Existing shareholding | Directors' Loan Shares | Enlarged shareholding | % of enlarged share capital |
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|
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|
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John Teeling | 22,286,633 | 31,906,122 | 54,192,755 | 14.16 |
David Horgan | 10,842,233 | 11,108,655 | 21,950,888 | 5.73 |
James Finn | 11,024,867 | 27,287,855 | 38,312,722 | 10.01 |
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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