StockMarketWire.com - Natural resources investor Contango said it had raised £1.4m through a conditional equity placing.
The company placed 28m shares at 5p a share.
Following the completion of the conditional placing, the company said it now anticipated being in a position to shortly issue a final prospectus setting out details of its previously announced purchase of the Lubu Coalfield from Consolidated Growth.
Shareholder approval would be sought for the placing and the transaction at a general meeting, expected to be held in February.
Story provided by StockMarketWire.com
Shares Magazine

Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events

Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.