Optiva Securities are pleased to announce their participation in the £1.0 million placing on behalf of LGO.
LGO ENERGY PLC ("LGO" or the "Company")
Optiva Securities are pleased to announce their participation in the £1.0 million placing on behalf of LGO. The placing was in support of the Goudron Investment, Hal Norwood explains “This pacing went through without hitch and was dealt with in a 24 hour window, which highlights the appetite for this business”.
LGO Raises £1 million for further Goudron Investment
LGO today announces that the Company has raised £1.0 million before expenses, by way of a Company arranged placing of 111,111,110 new ordinary shares ("the Placing Shares") at a placing price of 0.9p per share.
The funds will largely be deployed as additional working capital in LGO's Trinidad businesses including initiating work on the recently announced Goudron Sandstone program at LGO's flagship Goudron Field development.
Application is being made for the admission of these Placing Shares to trade on AIM and it is expected that this will occur on or before 14 October 2015. These Placing Shares will rank pari passu in all respects with the Company's existing issued ordinary shares. Subsequent to the issuance of these shares the Company will have 3,165,164,156 ordinary shares in issue.
|LGO Energy plc||Neil Ritson
|+44 (0) 20 7440 0645|
|Optiva Securities Ltd||Hal Norwood||+44 (0)20 3137 1902|
|Beaumont Cornish Limited||Nomad
|+44(0) 20 7628 3396|
|FirstEnergy Capital LLP||Joint Broker
David van Erp
|+44(0) 20 7448 0200|
|Bell Pottinger||Financial PR
|+44 (0) 20 3772 2500|