(Pic Courtesy of Magnum Gas & Power)

Magnum Gas & Power Limited has advised its shareholders that the company’s Share Purchase Plan (SPP) closed on Friday 22nd November 2013 with subscriptions for 26,338,316 ordinary shares. The company has instructed its share registry to allot and issue the SPP shares raising a total of $316,060.

“Given the current uncertainty in the world’s capital markets, the Directors are pleased with the level of support received from shareholders,” the company said.

Magnum Gas & Power has also allotted 1,500,000 shares in lieu of payment of $27,000 to one of the Company’s drilling contractors for services rendered during the recent exploration drilling operations.

“Following the completion of both these share issues the company will have 806,413,694 shares on issue, holding statements will be dispatched to applicants on Friday 29th November.”