Cove Energy to raise £110m

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Cove Energy to raise £110m

first_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Show Comments ▼ whatsapp Thursday 4 November 2010 10:15 pm Share whatsappcenter_img KCS-content COVE Energy, the AIM-listed energy group, yesterday said it was raising £110m via a placing of 145m new shares at 76p each.The placing price is at a 4.1 per cent discount to the last closing price.The net proceeds of the placing, together with Cove’s existing cash balances, will be used to fund the group’s share of anticipated costs relating to its existing assets in Mozambique, Tanzania and Kenya and potential new opportunities.Cove, which raised £25.7m in March to fund costs for its assets in Mozambique, recently found a big gas deposit at the deepwater Barquentine exploration well with licence partner Anadarko.Cove shares have more than tripled in value since it found gas at its Windjammer prospect in February,John Craven, chief executive officer of Cove Energy, said: ”I am very pleased to announce this successful conditional placing with institutional and other investors…our ability to attract such significant new equity is testament to the strategy implemented by the board which has yielded a portfolio of quality assets that now contain major gas discoveries at Windjammer and Barquentine and the first oil encountered, offshore East Africa, at the Ironclad well.”CENKOS SECURITIESJOE NALLYCENKOS Securities is Cove Energy’s financial adviser, nominated adviser and broker and is acting as sole book runner to the placing.The team is led by Jon Fitzpatrick in the corporate finance department of Cenkos, and by Joe Nally.Nally and Fitzpatrick, veterans of the sector having had senior roles formerly at Williams de Broe and Brewin Dolphin respectively, are being supprted by a team that includes Ken Fleming, Charlie Henderson, Iain Macarthur, Gregor Paterson, Guy Briselden, Will Dymott and Ashley Kelty. Fitzpatrick joined Cenkos in 2008 from Brewin Dolphin’s Glasgow office while Nally has spent most of his career in the City.Nally, a fun-loving character with a big City following, joined Williams de Broe in 1976 as an investment analyst covering property and insurance companies. In 1992 he was a founder of the institutional corporate finance department at Williams de Broe where he gained experience across a broad range of sectors in IPOs, secondary fund raising and takeovers and mergers, particularly in natural resources. Earlier this year Cenkos, which prides itself on its energy expertise, advised on a money-raising in London for the Canadian group Ithaca Energy. Cove Energy to raise £110m Tags: NULLlast_img read more

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