- Bahamas Petroleum Company has increased the size of its conditional placing from 150 million to 170 million shares following participation by directors and members of the management team.

The company announced on 14 June that it had raised $3.25m (£2.6m), before expenses, through a firm and conditional placing of 260,000,000 new ordinary shares.

This comprised a firm placing of 110 million shares (£1.1m) and a conditional placing of 150 million shares (£1.5m).

BPC said that as the company's annual financial statements to 31 December 2016 were released on 15 June, it was no longer in a closed period, which allowed directors to deal in securities of the company.

It said that consequently, all directors (including the CEO) and certain other members of the management team had agreed that they would participate in the placing, by subscribing £200,000 in aggregate for 20,000,000 shares.

At 9:26am: [LON:BPC] Bahamas Petroleum Company PLC share price was +0.03p at 1.11p

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