LONDON (Alliance News) - Oil and gas production firm Angus Energy PLC said Monday that it received GBP400,000 in relation to a conversion of securities.
Angus said the convertible securities have been priced at 4.3 pence each.
At the end of April, the company said it raised GBP3.0 million through a convertible loan in order to complete its acquisition of a license in Sussex. Angus issued the loan with a 0% interest rate.
Admission of the shares to trading is expected on Friday, following which the company will have 325.4 million shares in issue.
Angus shares closed up 29% at 8.38p each on Monday.
Angus Energy (ANGS)