Bowleven PLC - Africa-focused oil and gas, exploration and production company focused in Cameroon - Says it notes recent movement in its share price and is not aware of "any particular reason" for the sudden increase. Shares in Bowleven increased by 30% in the last month. The company says that it has been considering fundraising options, and expects to seek additional equity capital in the year to assist with its ongoing corporate activities; which it noted in its March 30 statement.
"Planning for an equity fundraising has continued since then but is not yet at an advanced stage and there can be no certainty that a fundraising will be concluded, nor as to the structure or terms of any such fundraising," Bowleven says.
Current stock price: 1.60 pence, down 8.6%
12-month change: down 45%
By Will Neill, Alliance News reporter
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Bowleven (BLVN)