Published on 5/19/2009 in the Prospect News PIPE Daily.
New Issue: Dana Petroleum arranges £56.03 million placement of shares to raise project funding
By Devika Patel
Knoxville, Tenn., May 19 - Dana Petroleum plc said it plans to raise £56.03 million in a private placement of shares.
The company will sell 4,343,706 ordinary shares at 1,290p apiece.
RBS Hoare Govett Ltd. is the agent.
Proceeds will be used to push projects through the development phase, while continuing to fund Dana's future exploration program.
Based in Aberdeen, Scotland, Dana Petroleum is an oil and natural gas exploration company.
| Issuer: | Dana Petroleum plc
|
| Issue: | Ordinary shares
|
| Amount: | £56,033,807.40
|
| Shares: | 4,343,706
|
| Price: | 1,290p
|
| Warrants: | No
|
| Agent: | RBS Hoare Govett Ltd.
|
| Pricing date: | May 19
|
| Stock symbol: | London: DNX
|
| Stock price: | 1,300p at close May 19
|
| Market capitalization: | £1.13 billion
|
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