Australia's Emperor Energy falls on discounted placement

Emperor Energy

03/02/2022 24:53

** Shares of Emperor Energy Ltd  EMP.AX  fall as much as 2%
to A$0.049 – a one-week low    
    ** The oil explorer says that it has received firm
commitments to raise A$1.5 million via a share placement
 urn:newsml:reuters.com:*:nFWN2UD17B
    ** Co says funds will be used to strengthen its balance
sheet and fund its various exploration activities
    ** Issue price of 4.25 Australian cents per share is at a
15% discount to stock's closing, when it last traded on Jan 31
    ** Stock has fallen 15.3% this year, as of last close 

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))