IGas proposes placing 24 million new shares with investors
AIM-listed exploration and production company IGas is proposing placing up to 24.3 million new ordinary shares with new and existing institutional investors to facilitate investment in IGas's shale resource.
AIM-listed exploration and production company IGas is proposing placing up to 24.3 million new ordinary shares with new and existing institutional investors to facilitate investment in IGas's shale resource.
The shares, which would be at a price of 95p per placing share, represent approximately 15% of the company's existing issued share capital.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The announcement follows recent developments in the UK with the lifting of restrictions on exploration for shale gas announced by the UK Government on December 13th and the establishment of the Office for Unconventional Gas and Oil.
IGas' shares were down 7.59% to 106.50p at 10:33 on Tuesday morning.
MF
-
UK dividends rose in final quarter of 2025, but share buybacks ate into investor payoutsLast year saw dividend growth continue to fall below pre-pandemic averages, against a backdrop of increasing share buybacks.
-
Lifetime ISA reform: Retirement option could be scrapped in overhaulA consultation on a product replacing the Lifetime ISA is set to be launched this year, and the option to use it to save for retirement is expected to be axed in the shake-up
