Business
Issue of New Shares to Raise ?3m
Issue of New Shares to Raise ?3m.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9574O Baron Oil PLC 12 August 2014 \n\nBaron Oil plc\n \n(\"Baron Oil\" or \"the Company\")\n \nIssue of new Shares to Raise £3 million\n \nBaron Oil, the AIM listed independent oil and gas exploration and production company, primarily focused on opportunities in Latin America, is pleased to announce that it has raised £3 million, before expenses, by way of a placing of 206,896,551 new ordinary shares of the Company (\"Placing Shares\") at a placing price of 1.45p per share (the \"Placing\"). The Placing Shares have been placed unconditionally save for their admission to trading on AIM (\"Admission\"). Application for Admission will be made and it is expected to take place on or about 19 August 2014. \n \nThe net proceeds of the Placing will be used for general working capital purposes. \n \nThe Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing issued ordinary shares in the capital of the Company. The Placing Shares will together represent approximately 15.03 per cent. of the Company's enlarged issued share capital and the total number of shares in issue following completion of the Placing will be 1,376,409,576.\n \n \nFor further information:\n \nBaron Oil Plc\nRudolph Berends (Chairman & CEO) Tel: +44 (0) 203 427 5089\n \nCantor Fitzgerald Europe \nNominated Adviser and Joint Broker\nSarah Wharry (Corporate Finance) Tel: +44 (0) 20 7894 7000\nRichard Redmayne / David Banks (Corporate Broking)\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END IOEELLFFZVFEBBZ\n ","length":3079,"tagName":"div"}]