Result of Placing and Open Offer and TVR
Highlights:
·
Open Offer closed with c.38.15% take-up from existing shareholders raising gross proceeds of £2.63 million (US$3.72 million) through the issue of 750,289,637 ordinary shares at a price of 0.35p each ("Open Offer Shares").
·
Successful Placing to raise additional gross proceeds of £4.26 million (US$6 million) through the further issue of 1,216,599,935 ordinary shares at a price of 0.35p each ("Placing Shares").
·
Aggregate gross proceeds of £6.9 million (US$9.75 million) from Open Offer and Placing.
Placing Summary:
Bahamas Petroleum, the Caribbean and Atlantic margin focused oil and gas company, with production, appraisal, development and onshore and offshore exploration assets across the region,