's () Hanno Pengily and Scott Flecther join Proactive London to discuss the raising of £750,000 from an oversubscribed and premium-priced share placing.
Pengilly explains that they had to 'scale people back' to the reaction, with the group issuing some 16.6mln new shares priced at 4.5p each, a premium price compared to the share’s 30-day weighted average price and the last equity raise in May 2020.
He says they are focusing on 'valued assets, mainly the tariff agreement with Electricidade de Mocambique (EDM). As well as formulising CMEC as our 60% equity partner'.
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