By Sheri Kasprzak
New York, Feb. 21 - Meridian Petroleum plc said it has completed a private placement for £1,004,000.
The company sold 7,171,426 shares at 14p each to institutional investors.
Westhouse Securities LLP was the placement agent.
Proceeds will be used to complete the company's work program at the Orion and Calvin properties.
Based in London, Meridian is an oil and natural gas exploration company.
| Issuer: | Meridian Petroleum plc
|
| Issue: | Stock
|
| Amount: | £1,004,000
|
| Shares: | 7,171,426
|
| Price: | 14p
|
| Warrants: | No
|
| Placement agent: | Westhouse Securities LLP
|
| Settlement date: | Feb. 20
|
| Stock symbol: | London: MRP
|
| Stock price: | 26p at close Feb. 20
|
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