Salamander Energy plc has proposed a $200 million Placing and Open Offer that will enable the acceleration and expansion of its development, exploration and new business programs.
Salamander proposes to raise approximately £100 million (approximately $200 million) by way of a Placing and Open Offer. The net proceeds will be used to:
The Company expects to utilize approximately £37.5 million ($75 million) of the net proceeds to fund the development of assets, £32.5 million ($65 million) to accelerate and expand the Company's current exploration program and £30 million ($60 million) to further broaden the portfolio (of which the majority is allocated to the recently announced acquisitions).
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