Amedeo Resources raises funds via placing

3rd Mar 2014 13:07

AIM-listed Amedeo Resources on Monday announced it had completed a subscription and placing to raise funds to satisfy its obligation of YZJ Offshore Engineering to pay for its stake in a new offshore rig building yard.The investment company, which is focused on the resources and resources infrastructure and asset sectors, raised a total of £5.2m after issuing a subscription for 300.48m shares and placing 221.28m shares, all at 1p each. Amedeo shares fell 8.09% to 1.03p by 13:10 Monday.NR