Proposed Capital Raising

RNS Number : 8223V
88 Energy Limited
20 April 2016
 

88 Energy Limited

 (the "Company") 

 

Proposed Capital Raising

 

Further to the Company's announcement earlier today regarding the trading halt and proposed capital raising, the Company confirms that it is currently seeking to obtain subscriptions for new ordinary shares at a price of 3.5 cents per share (£0.019 per share), to raise between AUS$10 million (c.£5.43 million) and AUS$15 million (c.£8.14 million).

 

It is currently intended that any such capital raising will utilise the Company's existing authorities and will not be subject to shareholder approval.  The Company confirms that the terms outlined above are indicative only and there can be no guarantee that a capital raising will be completed on these terms or at all.

 

For further information:

 

Australia




88 Energy Ltd

admin@88energy.com

+61 8 9485 0990




Hartleys Ltd

As Corporate Advisor

Mr Dale Bryan

+61 8 9268 2829




United Kingdom




Cenkos Securities Plc

As Nominated Adviser


Mr Neil McDonald

 Tel: +44 (0)131 220 9771 / +44 (0)207 397 1953

 

Mr Derrick Lee

Tel: +44 (0)131 220 9100 / +44 (0)207 397 8900

 

 

 

 


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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