Borders & Southern Petroleum plc has raised £200,000 through the issue of 4,210,526 shares at 4.75 pence each in a retail offer “almost three times oversubscribed”.
SOUTH FALKLAND
The funds raised add to the company’s placing and subscription last week, taking the total to £2.2 million.
Following admission, Border’s total number of ordinary shares in issue will be 877,630,245 with voting rights.
The South Falkland Basin-focused company said that the retail offer had received “strong” support from existing shareholders.