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NZO 45.0¢

outstanding success

  1. watso

    20,078 Posts.

    no one seems to have posted on nzo - recently. the company managed to raise a fair bit of money, on the back of the stronger price, as a result of the drilling of tui. i did not risk taking up any shares, and indeed, it was my intention to get out, before the main target was reached, however, the shares collapsed when the secondary target was intersected. the shares, were stronger in new zealand trading today, which was a bit of a surprise

    New Zealand Oil & Gas Limited (NZOG) advises that its share purchase plan, which closed on 31 January 2003 attracted $3.7 million in applications from approximately 1,500 shareholders.

    The issue price of each new share is NZ34.5 cents being the weighted average price on the New Zealand Stock Exchange (NZSE)over the ten days prior to and including the closing date of the offer. The price
    to Australian shareholders is A32.1 cents. In addition to the 10.71 million shares to be allotted under the plan, a further 2.39 million shares have been placed privately at the same price with 10 larger shareholders.

    This brings total funds raised to $4.5 million.

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