Buru Energy Provides Update on the Firm's Operations in Australia
Share Placement
The recent capital raising was successfully completed with a total of 37,504,998 shares issued to professional and institutional investors at $0.67 (AUD 0.75) per share to raise a total of $24,969,890 (AUD 28,128,749). This allotment has taken the company’s issued capital to 336,010,528 shares. This represents a dilution of 12.5 percent to existing shareholders at a discount of 2 percent to the closing price prior to the trading halt for the capital raising.
Share Purchase Plan
The Company is undertaking a Share Purchase Plan in association with the capital raising. Existing shareholders have the opportunity to also apply for shares at $0.67 (AUD 0.75) per share.
The Share Purchase Plan Offer Document was dispatched to shareholders on Sept. 26 and will be open until Friday Oct. 17, with allotment of those shares on Friday Oct. 24.
If shareholders have any questions regarding the Share Purchase Plan, they should contact the Buru Energy Limited SPP Offer Information Line any time between 8.30am and 5.00pm (Sydney time) Monday to Friday on 1800 660 083 if calling within Australia, or +61 2 8767 1211 if calling from outside of Australia.
A copy of the Share Purchase Plan Offer Document is also available on the Buru website at: http://www.buruenergy.com/wp-content/uploads/51-Share-Purchase-Plan-Offer-Documentation.pdf
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