Company sells 240 million of its shares at 5p apiece, a 5.66% discount
By Devika Patel
Knoxville, Tenn., Dec. 1 - Wessex Exploration plc said it took in £12 million in a private placement of shares.
The company sold 240 million ordinary shares at 5p each. The price per share is a 5.66% discount to the Nov. 30 closing share price of 5.3p.
Proceeds will be used for the Guyane forward work program and development of the company's other projects.
The hydrocarbon exploration company is based in London.
| Issuer: | Wessex Exploration plc
|
| Issue: | Ordinary shares
|
| Amount: | £12 million
|
| Shares: | 240 million
|
| Price: | 5p
|
| Warrants: | No
|
| Settlement date: | Dec. 1
|
| Stock symbol: | London: WSX
|
| Stock price: | 5.65p at close Dec. 1
|
| Market capitalization: | £25.41 million
|
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