We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now


It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

MX Oil: Additional £175k raised to fund Company's investment in Nigeria

Share On Facebook
share on Linkedin

Issue of Equity

MX Oil, the AIM quoted oil and gas investing company, has announced that it has raised £175,000 via a placing of 14 million ordinary shares at a price of 1.25 pence per share. The Placing is in response to demand received from new and existing shareholders to participate on the same terms of the recent issue of equity, which was announced on 2 February 2016. The proceeds of the Placing will be used to fund the Company’s investment in Nigeria.

Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that Admission will become effective on or around 12 February 2016. The Placing Shares will rank pari passu with the existing ordinary shares of the Company.

Following the Placing, the Company will have 438,095,737 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. The above figure of 438,095,737 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

MX Oil’s Chief Executive Officer Stefan Olivier said, “It is always encouraging to be approached with regard to additional investment. We view this as an endorsement of our strategy to focus on our onshore Mexican concessions and progress the possible sale of our investment in the Aje field offshore Nigeria. I look forward to providing further updates in due course.”

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch: