By Devika Patel
Knoxville, Tenn., July 29 - Leed Petroleum plc announced it raised £8.7 million in an oversubscribed private placement of shares.
The company sold 14.5 million ordinary shares at 60p per share.
Matrix Corporate Capital LLP was the agent for the placement.
Leed also settled a subscription offering of 10.5 million shares at the same price for £6.3 million.
Proceeds will be used will be used to reduce debt and continue the company's drilling program.
Based in London, Leed is an oil and gas development and production company.
| Issuer: | Leed Petroleum plc
|
| Issue: | Ordinary shares
|
| Amount: | £8.7 million
|
| Shares: | 14.5 million
|
| Price: | 60p
|
| Warrants: | No
|
| Agent: | Matrix Corporate Capital LLP
|
| Pricing date: | July 29
|
| Stock symbol: | London: LDP
|
| Stock price: | 64.5p at close July 29
|
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