HDR hardman resources limited

Capital Raising

  1. 76 Posts.
    Fusion Oil and Gas capital raising..info from Website
    Fusion Oil & Gas plc
    (“Fusion” or “the Company”)
    Placing
    Fusion Oil & Gas plc ("Fusion" or the "Company") announces that it has today entered into arrangements,
    conditional inter alia on admission, to place up to 4,500,000 new ordinary shares of 1p each ("new
    Ordinary Shares") at 45 pence per share (the "Placing"), to raise up to approximately £2.0 million before
    expenses. The new Ordinary Shares represent approximately 4.8% of Fusion’s existing issued share
    capital.
    The net proceeds of the Placing will provide the Company with working capital and, in particular, will
    finance further development planning regarding Fusion’s Mauritanian interests, cover costs associated
    with other key blocks and provide flexibility regarding the timing of further exploration activity.
    It is expected that the new Ordinary Shares will be admitted to the Alternative Investment Market of the
    London Stock Exchange (“AIM”) on 20 September 2002. On issue, the new Ordinary Shares will rank
    pari passu with the existing ordinary shares.
    17 September 2002
 
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