NZOG raises $42.5 million from exercise of options

A very high proportion of options were taken up, with 98.12% of options exercised resulting in the issue of 70,823,808 new shares. The company now has 199,060,625 shares on issue (excluding treasury stock of 5,864,515 shares).

Tony Radford, executive chairman of NZOG, said "We are pleased with the high success rate in option conversion which demonstrates strong support for the company and results in a continuing broadening in the shareholder base. The company is fast approaching a formal investment decision for the Tui oil development and raising these funds is timely".

In accordance with the option prospectus, unexercised options lapsed on 30 June 2005 excepting those received by mail postmarked on or before the 30 June 2005.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Otter offer spurned by NOG