Westmount raised just over £910,000 from subscriptions and an oversubscribed open offer at 5p a share.
Hargreave Hale increased its stake to just under 15%. The NAV was £1.28m at the end of June 2017, including £548,000 in cash.
The current share price is 6.63p, which values the company at £2.7m.
Westmount invested £500,000 in Eco (Atlantic) Oil and Gas Ltd during the period. This was because of its interests in offshore Guyana. Westmount also has a stake in the unquoted JHI Associates Ltd, which is interested in the same region. Falkland Islands-focused investments Rockhopper Exploration and Argos Resources Ltd remain in the portfolio.
Westmount still intends to find a suitable acquisition that provides exposure to the Guyana region.
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