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Argos Resources completes placing and starts trading on AIM
29 Jul 2010
Further to its announcement on 27 July 2010, Argos Resources, the oil & gas exploration company with assets in the North Falkland Basin, has announced that its entire issued share capital, comprising 216,113,205 ordinary shares of 2p each, has today been admitted to trading on the AIM market of the London Stock Exchange, under the EPIC code 'ARG'.
Argos also announced that the placing announced on 27 July 2010 has become unconditional in all respects. The placing comprised 70,967,742 new ordinary shares in the capital of the Company with institutional investors to raise gross proceeds of £22.0 million.
Argos stated in its earlier announcement that the placing shares will represent approx. 32.8% of the total issued ordinary share capital of the Company immediately following Admission, and that the net proceeds of the placing, totalling approx. £20.6 million, would principally be used to finance a 3D seismic programme, further details of which are contained in the Company's AIM admission document.
Source: energy-pedia
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