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Monday, 08 September, 2008, 18:50 GMT | more prices >>

SeaBird scoops up offering



By Upstream staff 

SeaBird Exploration has issued 8.1 million shares, price tagged at Nkr15 ($2.9), in a private placement directed towards institutional and private investors.

Total gross proceeds from the issuance, which represents around 10% of outstanding shares, amounted to Nkr121.5 million.

Bartica Holdings Limited, a company 100% controlled by Tim Isden, head of SeaBird Exploration, was allocated 1,040,000 shares in the placement.

The additional shares bumped up Isden’s stake to 12.7%.

The total number of outstanding shares after the issuance is 89,395,000.


Thursday, 28 February, 2008, 11:05 GMT  | last updated: Thursday, 28 February, 2008, 11:08 GMT

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