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Deltic Energy PLC - AIM-listed natural resources investing company - Intends to raise £15 million through a placing and subscription as well as a further £2 million through an open offer. Open offer and placing is at a price of 3.5 pence per share. Placing will be conducted through an accelerated bookbuilding process and is expected to close on Tuesday. Company's largest shareholders, IPGL Ltd and Inthallo Ltd, say they intend to invest up to £5 million and £1.5 million respectively.
Deltic's fundraise is to fund its share of the Selene well in the Southern North Sea and fund further investment in its existing licence portfolio. The Selene well is operated by Shell PLC.
Current stock price: 3.90 pence
12-month change: up 67%
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