RE: What price2 Jul 2020 17:04
Prospex Oil and Gas Plc, the AIM quoted investment company, is pleased to announce that it has raised £720,000 gross via an oversubscribed placing of 600,000,000 new ordinary shares of £0.001 each in the Company ("Ordinary Shares") (the "Placing Shares") at a price of 0.12 pence per Placing Share (the "Placing Price") (the "Placing"). The net proceeds of the Placing will primarily be used to fund the Company's acquisition of a 49.9% indirect stake in El Romeral, an integrated gas production and power station operation located in the Guadalquivir basin in southern Spain ('El Romeral' or 'Project') (please refer to the Company's announcement of 17 December 2019 for further information). The Placing was undertaken with new and existing investors as well as certain Directors of the Company who are acquiring Placing Shares with an aggregate value of £140,000 based on the Placing Price.