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UK oiler Angus Energy raises £2mln for acquisitions

The cash injection increases financial flexibility for acquisition activity, the UK oil and gas company said
oil and gas operations
Angus is issuing new shares at 6p each

Angus Energy PLC (LON:ANGS) has raised £2mln of new capital, issuing new shares sold to institutional and private investors.

Some 33.3mln new shares are being issued at a price of 6p per share, which is a 27% discount to Thursday’s closing price.

READ: Angus Energy teams up with Cuadrilla for a new programme at Balcombe

The cash injection increases financial flexibility for acquisition activity, the UK oil and gas company said in a statement.

Angus Energy shares dropped 1.67p or 20.2% to change hands at 6.58p.

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