Triangle Energy (Global) Ltd directors have demonstrated their confidence in the company’s oil & gas strategy by participating in tranche-2 of a placement announced on June 17, for which shareholder approval was received on July 28.
The company raised more than $10 million in the placement to new and existing sophisticated, institutional and professional investors with a subsequent entitlement offer providing a further $150,000.
Funds raised will support the continued development of TEG’s existing projects.
Change of director interests
Non-executive chairman Timothy Monckton acquired 454,546 shares on August 9 valued at $10,000 in a direct interest, marking his first share purchase in the company.
Managing director and CEO Robert Towner acquired in excess of 4.545 million shares valued at $100,000, increasing the total number of securities held to more than 19.8 million in direct and indirect interests.
Non-executive director Malcolm King purchased 454,546 shares in a direct interest, marking his first purchase in the company.