Mediterranean focussed Independent Resources Plc has raised nearly £1.5million after an open share offer.
The London listed upstream firm has announced that it raised £1,453,582 before expenses with the offer.
Application has been made for 2,236,280,127 New Ordinary Shares pursuant to the Open Offer to be admitted to trading on AIM with Admission expected to become effective at 8am today.
The firm’s shareholders also agreed that the company will change its name to Echo Energy plc with immediate effect. As a consequence it will adopt the ticker symbol ECHO.
This change will also come into force today.
The Company has also announced its intention to proceed with a 25:1 share consolidation which will be brought to shareholders for approval during the latter half of May.
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