LONDON (Alliance News) - Eland Oil & Gas PLC said Wednesday that it had exercised options under agreements with Solstice International Investments Inc and Helios Natural Resources Ltd to raise GBP14.0 million at 100 pence per share.
The proceeds from this fund raising will be used as general working capital and for corporate purposes, Eland said.
Under the agreements both Solstice and Helios were required to subscribe for seven million shares at 100 pence each.
Shares in Eland were trading down 0.1% at 127.93 pence Wednesday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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