Sunda Energy plc has raised gross £404,780 from a retail offer for the issue of 13,606,029 new shares and 6,802,977 warrants.
REORGANISATION
The sum raised adds to the £6.7 million raised earlier this week, which will fund the oil and gas exploration company’s proposed expansion into New Zealand.
Shareholders are expected to vote on the fundraises, acquisition and certain resolutions, including a proposed capital reorganisation, at a general meeting on 29 April 2026.
Sunda’s current assets are located in the Chuditch gas field, offshore Timor-Leste and the Philippines.