Raises 18 Million GBP

15 Jun 2007 13:39

White Nile Limited15 June 2007 White Nile Ltd / Ticker: WNL / Index: AIM / Sector: Oil & Gas 15th June 2007 White Nile Limited ('White Nile' or 'the Company') Raises £18 million White Nile Ltd, the AIM traded oil and gas exploration company, has raised £18million through the issue of 18,000,000 new ordinary shares of 0.1p each at£1.00 per share. The proceeds of the placing, conducted with existing as well asnew institutional investors, will be utilised to fund the development of theCompany's operations in Southern Sudan and Ethiopia, as well as to develop itsactivities within the region as a whole. Application will be made today for the new shares to trade on AIM and it isexpected that dealings in these shares will commence on 21 June 2007. The newordinary shares will rank pari passu in all respects with the existing shares inissue. * * E N D S * * For further information please contact or visit www.whitenile-ltd.com: Phil Edmonds White Nile Ltd Tel: 0845 108 6060Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477Jonathan Wright Seymour Pierce Ltd Tel: 020 7107 8000 This information is provided by RNS The company news service from the London Stock Exchange