Company raises funding through agents ING Bank, Mirabaud Securities
By Devika Patel
Knoxville, Tenn., March 29 - Exillon Energy plc said it completed a £93.75 million private placement of shares through agents ING Bank NV, London branch, and Mirabaud Securities LLP.
The company sold 23,438,000 ordinary shares at 400p each. The price per share is a 1.26% discount to the March 28 closing share price of 405.1p.
The independent oil producer is based in Dubai, United Arab Emirates, and intends to use the deal's proceeds for infrastructure and drilling projects, including oil processing facilities, infield pipelines, equipment for gas utilization and power generation. Remaining net proceeds will fund the company's drilling program for Exillon TP and Exillon WS.
| Issuer: | Exillon Energy plc
|
| Issue: | Ordinary shares
|
| Amount: | £93,752,000
|
| Shares: | 23,438,000
|
| Price: | 400p
|
| Warrants: | No
|
| Agents: | ING Bank NV, London branch, and Mirabaud Securities LLP
|
| Settlement date: | March 29
|
| Stock symbol: | London: BPC
|
| Stock price: | 406p at close March 29
|
| Market capitalization: | £559.33 million
|
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