Synergon Petroleum Plc announced a private placement of common 2,500,000 shares at a price of BGN 10 for gross proceeds of BGN 25,000,000 on February 21, 2019. The transaction involved participation from returning investor Synergon Holding AD (BUL:6S7). Post the transaction, the investor will hold 89.6% stake in the company and the rest 10.4% stake will be held by Toplivo AD. Post the transaction, the capital of the company has increased from BGN 4,000,000 to BGN 29,000,000.