Angus Energy plc’s £1 Million Equity Placing

Fladgate has advised Angus Energy plc (AIM:ANGS) on the deal.

Angus Energy plc, the AIM listed onshore oil and gas development company, made a £1 million equity placing, which will form part of a working capital contingency fund to support a proposed debt facility of up to £12 million.

Together, the placing and the proposed debt funding will assist in the redevelopment and connection to the grid of the onshore Saltfleetby Gas Field, in which Angus Energy is owner-operator with a 51% share. The facility will be supported by gas sales.

The Fladgate team comprised Paul Airley (Picture) and senior associate David Baverstock.

Involved fees earner: Paul Airley – Fladgate LLP; David Baverstock – Fladgate LLP;

Law Firms: Fladgate LLP;

Clients: Angus Energy plc;