On October 17, 2007, Nautical Petroleum raised approximately £20 million before expenses through a placing of shares by KBC Peel Hunt Ltd. 190,476,191 new ordinary shares of 1p each have been conditionally placed with institutional investors at a price of 10.5p per Placing Share.
June Paddock and Minay Mahidharia of Fasken Martineau Stringer Saul advised Nautical Petroleum PLC on this matter.