Nexus Completes Institutional Placement
Nexus Energy Limited has completed an institutional placement raising $29.5 million.
The institutional placement was conducted on March 21 & 22, 2007. A total of 36.84 million new shares were placed with domestic and international institutional and sophisticated investors at $0.80 per share.
Nexus shares will recommence trading March 23, 2007.
Mr. Ian Tchacos, Managing Director, commented that, "We are delighted with the outcome of the placement, and the strong support shown for Nexus. The placement will principally finance the continued drilling of the Crux field located offshore Australia – one of our three key projects."
"We welcome a large number of new, domestic and international, institutional investors onto our register. It is also pleasing to note that the placement was well supported by many existing institutional shareholders."
In coming weeks, a Share Purchase Plan ("SPP") will be conducted to allow Nexus' retail shareholders to participate in this capital raising. The record date for determining eligibility to participate in the SPP is April 3, 2007.
Deutsche Bank and Wilson HTM acted as joint lead managers and joint bookrunners to the institutional placement.
- Nexus Resumes Production at Longtom-4 Well in Gippsland Basin (Mar 12)
- Nexus Updates on Plans to Divest its Crux, Longtom Assets in Australia (Feb 21)
- Santos Suspends Production at Patricia-Baleen Gas Processing Plant (Jan 14)