88 Energy Limited - Rights Issue Results and Shortfall Notice
Rights Issue Results and Shortfall Notice
The Rights Issue offered eligible shareholders (or depository interest holders) registered on the Record Date the ability to subscribe for Shares on the basis of one (1) fully paid share in the Company (New Shares) for every seven (7) Shares held at an issue price of
Eligible shareholders were also given the opportunity to apply for additional shortfall shares beyond their 1 for 7 entitlement.
Total applications for the New Shares raising gross proceeds of
The results of the Rights Issue are as follows;
· Acceptances (New Shares): 202,295,078
· Shortfall Shares: 593,592,274
· Total Number of Shares: 795,887,3521
1As the offer was rounded up at an individual holder basis, there are 3,117 entitlements greater overall in the entitlement figures on offer on the register than to the 795,884,235 maximum to be issued under the Open Offer highlighted in the Offer Document.
In accordance with the Rights Issue Offer Document (lodged with ASX on 5th
"The Company is grateful for the support shown by existing shareholders, despite the recent volatility in the broader market, and the take-up under the offer has exceeded internal projections.
Media and Investor Relations:
Email: [email protected]
Finlay Thomson, Investor Relations Tel: +44 7976 248471
Dale Bryan Tel: + 61 8 9268 2829
Cenkos Securities Tel: + 44 131 220 6939
Neil McDonald/Derrick Lee
This information is provided by RNS, the news service of the
Quick facts: 88 Energy Ltd
Market Cap: £29.93 m
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