Angus Energy PLC (LON:ANGS) has raised £2mln of new capital, issuing new shares sold to institutional and private investors.
Some 33.3mln new shares are being issued at a price of 6p per share, which is a 27% discount to Thursday’s closing price.
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The cash injection increases financial flexibility for acquisition activity, the UK oil and gas company said in a statement.
Angus Energy shares dropped 1.67p or 20.2% to change hands at 6.58p.