Published on 5/11/2009 in the Prospect News PIPE Daily.
New Issue: Petrel Resources announces completion of £1.84 million private placement of shares
By Devika Patel
Knoxville, Tenn., May 11 - Petrel Resources plc said it raised £1.84 million in a private placement of shares.
The company sold 4.09 million ordinary shares at 45p apiece.
Proceeds will be used as working capital.
Petrel Resources is a Dublin, Ireland, oil exploration company.
| Issuer: | Petrel Resources plc
|
| Issue: | Ordinary shares
|
| Amount: | £1,840,500
|
| Shares: | 4.09 million
|
| Price: | 45p
|
| Warrants: | No
|
| Settlement date: | May 11
|
| Stock symbol: | London: PET
|
| Stock price: | 46p at close May 11
|
| Market capitalization: | £38.1 million
|
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