RE: Why Oh Why5 Dec 2018 16:10
could it be the ii who was locked in for 6 months and now needs the money???The Company also announces that, further to the completion of the fundraising announced on 12 February 2018, an institutional investor has subscribed for 331,858,407 ordinary shares ("New Ordinary Shares") at a price of 0.452 pence per ordinary share raising a further £1.5 million for the Company. As previously announced, the Company's operations at T-45, Dino-2 and Ud-2 were funded and underway. The new funds raised are to further advance the Company's work program operations at the Taribani and Mtsarekhevi complexes which includes the drilling and stimulation program at well T39 as planned. Under the terms of the subscription, the subscriber has agreed to a 6-month lock-in period for the subscribed New Ordinary Shares.