(Recasts lead, headline, clarifies subscription price)
LONDON (Thomson Financial) - Ragusa Capital's shares have resumed trading on
AIM today after it agreed to acquire certain utility assets and oil and gas
exploration interests in Argentina for an initial 72.5 mln usd.
The company, which will be renamed Andes Energia, said the initial payment
for the acquisition comprises an issue of 64.89 mln shares and 12 mln vendor
warrants together with a cash payment of 2.4 mln usd.
Chairman Lance O'Neill said the acquisition provides significant assets and
gives it a strong platform to build a significant energy company within South
America.
Ragusa also said it plans to raise 6.5 mln stg through a placing.
It will issue 12 mln subscription shares and 12 mln subscriber warrants at
54 pence per subscription share plus subscription warrant.
Ragusa will have a market capitalisation of about 54.5 mln stg at the
placing price of 54 pence.
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