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Lansdowne Oil Share News (LOGP)

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IN BRIEF: Lansdowne Oil & Gas launches new share placing

Thu, 07th Dec 2023 14:26

Lansdowne Oil & Gas PLC - North Celtic Sea-focused oil and gas company - Places 40.0 million firm shares and 160.0 million conditional shares at 0.1 pence each, to raise GBP200,000. Placing of conditional shares depends on passing "certain resolutions" at upcoming general meeting on December 29. Company will use proceeds to meet expected working capital requirements through to the end of June 2024. It was designated an AIM Rule 15 cash shell on September 20, and must achieve a reverse takeover by March 20.

Current stock price: 0.11p, down 12% on Thursday afternoon in London

12-month change: down 79%

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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