Baron Oil PLC - London-based oil and gas exploration and appraisal company - Confirms it has raised approximately GBP260,000 through retail offer for 528.0 million shares at 0.05 pence each. Company announced on Thursday that its recent "oversubscribed" placing and subscription had raised GBP3.0 million, with 6.00 billion shares priced at 0.025p each. Fundraise has therefore earned approximately GBP3.3 million in total. Baron expects placing, subscription and retail offer shares to be admitted to trading on AIM with effect on or around February 29.
Current stock price: 0.055 pence, down 27% on Friday in London
12-month change: down 75%
By Emma Curzon, Alliance News reporter
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Baron Oil (BOIL)