Shareholders in Trinity Exploration and Production plc have approved their part in a US$15 million refinancing of the company.
It comes after creditors approved the financial overhaul last month.
The funding will comprise a placing of new shares worth �9.3 million (US$11.25 million) at 4.68p, a 165 per cent premium to the price when Trinity suspended its shares in July, while a convertible loan note will raise a further �2.6 million (US$3.28 million).
The hearing of the application for the approval of the creditors proposal by a T&T court, which was approved by the local creditors on December 19, has been set for January 6, the firm added.
Trinity operates producing and development assets both onshore and offshore, in the shallow water West and East Coasts of Trinidad.