Sound Oil in chunky share issue

Sound Oil, an upstream oil and gas company with assets in Italy and Indonesia, is to tap the market to fund operations in both countries.

Sound Oil, an upstream oil and gas company with assets in Italy and Indonesia, is to tap the market to fund operations in both countries.

The company plans to issue 774m shares for variable amounts, with the issue prices set at the end of seven separate trading periods, beginning July 25th and finishing in February 2013. The exact amount raised will depend on the future share price, but if it remains stable, around £6.0m will be raised after costs.

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