TXO, an AIM quoted oil and gas investment company, has entered into a liquidity facility agreement with Windsor Capital Partners, under which it has issued and allotted 50m shares, equal to 4.29 per cent of the issued share capital to Windsor, in exchange for a promissory note.
The company believes this agreement will allow it to access capital using the natural liquidity that is available in the company's shares in a more cost effective manner than traditional equity line products have offered.
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
Tim Baldwin, Chairman, said: "This product enables TXO to benefit from the liquidity seen in the company's shares without putting downward pressure on our share price. It also represents a cost effective mechanism for raising modest amounts of capital, as and when market conditions are favourable."
NR
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyersRachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap
