Angus Energy (ANGS.L) expects its restructuring process to be completed in the coming weeks despite slower-than-expected progress.
The restructuring is expected to boost the oil and gas company's balance sheet and liquidity, according to a Thursday filing.
The company's shares remain suspended from trading on London's alternative investment market, with trading expected to resume after the restructuring is completed.
Afentra (AET.L) raised $40 million through an oversubscribed firm and conditional placing of 44,315,240 new ordinary shares at 0.67 pound sterling apiece.The British upstream oil and gas company issued 22,615,600 firm placing shares to raise $20.4 million and 21,699,640 conditional placing shares to raise $19.6 million, according to a Thursday filing. The shares are expected to commence trading on the London stock exchange on June 9 and June 26, respectively.Separately, Afentra plans to launch a retail offer of 2,985,074 shares to raise up to 2 million pounds. The retail offer shares are scheduled to begin trading on the London bourse on June 26.Stifel Nicolaus Europe acted as bookrunner in the placing.
Borouge (ADX:BOROUGE) appointed Siegfried Wengler as its new chief financial officer to succeed Jan-Martin Nufer, effective July 1.The petrochemicals company also appointed Salem Al Busaeedi as its chief operating officer with immediate effect, according to a Wednesday release.
President Donald Trump is set to announce $500 million in federal funding to support domestic coal-fired power plants and a coal export terminal, invoking the 1950 Defense Production Act, Bloomberg reported Wednesday, citing a White House official.The plan includes $425 million for 13 existing coal plants and separate Energy Department grants for two new plants in Alaska and West Virginia, Bloomberg said.An additional $75 million would support the proposed West Gateway export terminal in Oakland, California, which could ship up to 12 million tons of coal annually, the report said.Beneficiaries include Duke Energy (DUK), Hallador Energy (HNRG), Oklahoma Gas & Electric, and a subsidiary of American Electric Power (AEP), according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)