Business
Proposed fundraise to raise up to USD$8.5 million
Proposed fundraise to raise up to USD$8.5 million.
About this update from Petro Matad Limited
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.\nThis Announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any investment decision in respect of Petro Matad Limited or other evaluation of any securities of Petro Matad Limited or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.\nThis Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"UK MAR\"). In addition, market soundings (as defined in UK MAR) were taken in respect of certain of the matters contained in this Announcement, with the result that certain persons became aware of such inside information, as permitted by UK MAR. Upon the publication of this Announcement, this inside information is now considered to be in the public domain and such persons shall therefore cease to be in possession of inside information.\n \nPetro Matad Limited\n(\"Petro Matad\" or the \"Company\")\nProposed Capital Raising to raise USD$8.5 million \n \nPetro Matad Limited (\"Petro Matad\" or the \"Company\") (AIM: MATD), the AIM quoted Mongolian oil company, intends to undertake a proposed Capital Raising of, in aggregate, up to USD$8.5 million (gross) by way of a placing (the \"Placing\") of, and a subscription by a director and shareholder of the Company (the \"Subscription\" or the \"Subscriptions\") for, new Ordinary Shares (\"Placing Shares\" and \"Subscription Shares\" respectively) at a price of 2.0 pence (the \"Placing Price\") per share.\nPetro Matad also intends to carry out a separate offer of up to 20 million new ordinary shares at the issue price on the Bookbuild Platform (the \"Retail Shares\" and, together with the Placing Shares and the Subscription Shares, the (\"Capital Raising Shares\")) to raise a further c. USD$0.5 million (before expenses) (the \"Retail Offe...