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European law firm Fieldfisher has advised Independent Resources PLC ("IRG") on a £1.75 million fundraising by way of a firm placing, an open offer and a conditional placing of open offer shares subject to clawback.
IRG is an AIM quoted oil and gas company with a focus on acquiring and developing production and low risk exploration opportunities in the Mediterranean basin. The funds raised will be used principally to advance the work programme of IRG's Ksar Hadada permit, which is located in Tunisia, and to meet the preparation costs of IRG becoming the operator of Ksar Hadada.
The placing was made to institutional and other investors by IRG's nominated adviser and broker, Charles Stanley Securities, which was advised by Fladgate.
The Fieldfisher team was led by equity capital markets partner Dominic Gurney-Champion, assisted by solicitors, Rashed Hasan and Owain Davies.