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Result of Placing and Open Offer and TVR Highlights: · Open Offer closed with c.38.15% take-up from existing shareholders raising gross proceeds of £2.63 million (US$3.72 million) through the issue of 750,289,637 ordinary shares at a price of 0.35p each ( Open Offer Shares ). · Successful Placing to raise additional gross proceeds of £4.26 million (US$6 million) through the further issue of 1,216,599,935 ordinary shares at a price of 0.35p each ( Placing Shares ). · Aggregate gross proceeds of £6.9 million (US$9.75 million) from Open Offer and Placing.
Placing Summary: Bahamas Petroleum, the Caribbean and Atlantic margin focused oil and gas company, with production, appraisal, development and onshore and offshore exploration assets across the region, ....
Ahead of the Saffron well new shares are being sold at a price of 0.35p The company set out to raise £6.9mln through the offer in April and it subsequently extended the deadline to May 18. In a stock market statement after Wednesday’s close it confirmed that qualifying shareholders elected to take up some 750mln new shares, representing around 38% of the shares offered. The shares were offered at a price of 0.35p each. It also said that stockbroker Shore Capital will now proceed to place the balance of the shares that were made available in the open offer. It will be executed as an accelerated book-build process, closing at 8:00am today. The placing is not underwritten. ....
RNS Number: 3077 Z Bahamas Petroleum Company PLC 20 May 2021 20 May 2021. ·Successful Placing to raise additional gross proceeds of £4.26 million. ....
Bahamas Petroleum adds former BP Trinidad chief to board as Saffron well spud date approaches Trinidad is becoming increasingly important to the company, not least because of the imminent spudding of the Saffron well Bahamas Petroleum Company PLC (LON:BPC) - soon to be renamed as Challenger Energy Group – has appointed BP’s former country manager for Trinidad to its board. Robert Riley will join the company as a non-executive director. The appointment of Riley comes as the company is putting its focus on production-led growth, primarily in Trinidad. He brings significant in-country experience as he was previously BP’s chief executive and chairman for Trinidad. ....