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 |
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88 Energy Ltd [email protected] +61 8 9485 0990 |
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Hartleys Ltd As Corporate Advisor Mr Dale Bryan +61 8 9268 2829 |
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United Kingdom |
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Cenkos Securities Plc As Nominated Adviser |
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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 |
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