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Article: Texon Petroleum Limited (ASX:TXN) Share Purchase Plan Raises A$5.9 Million
- Article from:
- abnnewswire.net
- Article date:
- September 21, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Texon Petroleum Limited (ASX:TXN) advises that the Share Purchase Plan (SPP) which was announced on 14 August and closed on 16 September has raised A$5.9m. Shareholders applied for 31,055,454 shares at an issue price of 19 cents which was discounted by 19%. The offer was underwritten by RBS Morgans (formally ABN AMRO Morgans) up to A$2.95m.
Directors were pleased with the support received from shareholders which represented a take up by 44% of the Company's Australian and New Zealand shareholders.
The Company has now raised a total of A$8.47m including the placement of 13.5 million shares to sophisticated and institutional investors in August at 19 cents per share. These funds will allow ...