MARKETS

Armour chasing $32M to reduce debt 

ARMOUR Energy is out to raise a sizable $32 million via a placement of $2.7 million to institutional shareholders, a one-for-one pro-rata entitlement to raise another $9.3 million and $20 million in new convertible notes. 

Armour chasing $32M to reduce debt 

The last is subject to shareholder approval and the consent of the Queensland company's existing secured amortising note holders.   Placement shares will be priced at 0.4c each, a 33.33% discount to...

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