Sound Oil unveils results of open offer

Sound Oil, the Italian focused upstream oil and gas company, has said it received acceptances for 605,662 open offer shares at 8.073p per new ordinary share.

Sound Oil, the Italian focused upstream oil and gas company, has said it received acceptances for 605,662 open offer shares at 8.073p per new ordinary share.

The offer, which was announced following a private placement process, was made to eligible shareholders on the basis of 43.15823 open offer shares for every 1,000 existing ordinary shares.

The shares are expected to be admitted to AIM on March 25th.

The net proceeds of the open offer will be used for progressing the company's projects in Italy and for general working capital purposes.

NR

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