LONDON (Alliance News) - Egdon Resources PLC on Tuesday said it received valid acceptances over 31.2 million shares in a open offer launched in mid-May.
The company said the number of shares represent 72% of the 43.3 million offered in total. When launching the open offer, Egdon put a price of 5 pence per open offer share, which would mean the company raised GBP1.6 million.
The shares include irrevocable undertakings from Petrichor Holdings Cooperatief UA and Premier Oil PLC.
Egdon Resources shares were trading 5.3% lower at 4.50 pence each.