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ASX Trading Halt & Proposed Capital Raising for 88 Energy

Source: www.gulfoilandgas.com 3/2/2017, Location: Not categorized

88 Energy Limited announces that its shares have been placed in a trading halt on the Australian Securities Exchange (ASX) pending the release of an announcement in relation to a potential capital raising.

Indicatively, the Company is seeking to raise gross proceeds of up to A$17 million (c.£10.6 million) at an issue price at or around (A$0.037 / £0.023) per share. The shares in the Company will continue to trade on AIM during this period.

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 no terms for any such capital raising have been agreed and there can be no guarantee that a capital raising will be completed.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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