StockMarketWire.com - Energy company Ncondezi Energy said it had raised £0.75 million from a share issue, providing working capital for the development of a coal-fired power project in Tete, Mozambique.

New shares in the company were issued at 4.5p each, which it said was a small premium to the 30-day volume weighted average price.

Ncondezi Energy said the funds, together with existing cash resources were expected to cover corporate costs to complete tariff negotiations with Electricidade de Mocambique and key agreements, including power purchase and power concession pacts.


At 9:24am: [LON:NCCL] Ncondezi Energy Limited share price was 0p at 3.8p



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