Mermaid Marine

Mermaid has completed a book build for the retail component of its fully underwritten seven-for-18 pro rata accelerated renounceable entitlement offer.

Shares through the book build were placed at $2.40 per share.

The settlement date is April 1, with new shares expected to be issued on April 2.

Proserv

Proserv has been awarded its largest contract yet for subsea controls, agreeing to deliver nine control systems to a leading oil field service company for around $US40 million ($A43.4 million).

The subsea systems will support deepwater workover controls services for several projects in Brazil, operating in water depths up to 2500m.

The systems will be delivered in a phased approach over the course of 2015, in line with project milestones.

Torrens Energy

The closing of the offer period for an off-market takeover of all the ordinary shares in Phoenix Oil and Gas by Torrens Energy has been extended from April 1 to April 15.

The takeover requires acceptances from 90% of Phoenix shareholders in order to take place, with Torrens currently holding 83%.

Torrens is also undertaking a capital raising of up to $6 million through a prospectus to issue up to 24 million new shares at 25c per share.

The Torrens-Phoenix combined entity will go by the name of High Peak Royalties.