By BFN News | 01:47 PM | Wednesday 17 March, 2021
Jersey Oil & Gas has announced its intention to undertake a fundraising of up to £15 million by way of a placing of, and a subscription by certain of the company's directors for, new ordinary shares.
In addition, the company intends to launch an offer to qualifying participants to raise up to a further £2 million at the issue price.
The placing will be effected by way of an accelerated bookbuild at a price of 165p per placing share.
A further announcement confirming the closing of the Bookbuild and the number of new Ordinary Shares to be issued pursuant to the Placing is expected to be made in due course.