Press

Whitebark Energy: Rights Issue Closes Significantly Oversubscribed and Additional Placement


Whitebark Energy Limited, ASX:WBE, (‘Whitebark' or ‘the Company') is pleased to advise that the renounceable rights issue announced on 1 August 2018 (‘Offer') has been well supported by the Company's shareholders and new investors and closed significantly over-subscribed. The Company has raised $1,980,862 (before costs) and will issue 495,215,500 shares and 495,215,500 options in accordance with the Offer timetable. The new options will be listed under the ASX code WBEO.

The Company received entitlement applications for 248,842,367 shares leaving a shortfall of 246,373,133 shares. Applications from existing shareholders for additional shares combined with new investor demand to participate in the shortfall has led to the demand for shortfall securities significantly exceeding the available shortfall.

To accommodate some of the excess demand, the Company will place an additional 87,500,000 fully paid ordinary shares at $0.004 and 87,500,000 attaching WBEO options to raise an additional $350,000 (‘Placement') before costs. The Placement to unrelated sophisticated investors will be issued on the same terms as the Entitlement Issue.

The Placement will be completed pursuant to the Company's 15% Placement capacity under ASX Listing Rule 7.1 (37,978,450 Shares and 87,500,000 Options) and the additional 10% capacity Placement under Listing Rule 7.1A (49,521,550 shares) available on completion of the entitlement issue.

The funds raised from the additional Placement will be allocated pro-rata to the proposed use of funds in the Prospectus.

Charles Morgan, Chairman, said “ On behalf of the Board I would like to thank shareholders and new investors for their significant support of the offer”

Funds raised from the Entitlement Issue and the Placement total approximately $2.33 million (before costs). CPS Capital Pty Ltd acted as Lead Manager and partial underwriter.

It is expected that the securities to be issued under the Entitlement Issue will be issued on 30 August 2018.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

https://wcsecure.weblink.com.au/pdf/WBE/02015307.p...

Whitebark EnergyRights IssueASX

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 1 month agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 5 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 9 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 9 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 9 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice