Frontera Resources, an oil and gas exploration and production company, has raised funds through a drawdown from its previously announced SEDA facility, with the funds being used to advance the company's work programmes.
The drawdown, which raised £624,804, was undertaken at a price of 0.49875p per share, and will result in the issue of just under 125.3m new ordinary shares of $0.00004 each.
The shares will be admitted to AIM around September 25th.
Subscribe to 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
NR
-
Which investment trusts could benefit from lower interest rates?As vehicles for long-term investments, many investment trusts were hit when interest rates rose in 2022. With interest rates expected to fall by the end of the year, could now be the time to invest in one of these unloved sectors?
-
How to protect your personal and financial data from cyber attacksM&S and the Co-op are the latest retailers to suffer from cyber hacks but consumers also need to be vigilant
