Shareholders in Trinity Exploration & Production PLC (LON:TRIN) have approved their part in a US$15mln refinancing of the Trinidad oil company.
It comes after creditors approved the financial overhaul earlier in the month.
The funding will comprise a placing of new shares worth £9.3mln (US$11.25mln) at 4.68p, a 165% premium to the price when Trinity suspended its shares in July, while a convertible loan note will raise a further £2.6mln (US$3.28mln).
The hearing of the application for the approval of the Creditors proposal by the Trinidad and Tobago Court, which was approved by the Trinidad and Tobago Creditors on December 19, 2016, has been set for Friday January 6, 2017, the firm added.
Trinity operates producing and development assets both onshore and offshore, in the shallow water West and East Coasts of Trinidad.