Level 7, 151 Macquarie Street
Sydney NSW 2000
T: 02 9251 1846
F: 02 9251 0244
(ASX: EEG) (OTCQX: EEGNY)
31 January 2017
UNDERWRITTEN RENOUNCEABLE RIGHTS ISSUE SHORTFALL NOTIFICATIONOn 14 December 2016 the Company announced a 11 for 5 pro-rata renounceable rights issue ('Offer') at an issue price of $0.008 per new share ('New Shares') to raise approximately $6.1 million before costs.
The Offer closed on the 27 January 2017.
The Offer included a Top-Up Facility whereby Eligible Shareholders are entitled to apply for additional New Shares in excess of their Entitlement, at the same price as New Shares under the Offer.
The Company advises that it has received applications for 236,538,079 New Shares amounting to
$1,892,305.
New Shares are comprised of the following:
New Shares | |
Shares taken up by Eligible Shareholders entitled to New Shares under the Offer on a 11 for 5 basis | 208,813,175 |
New Shares applied for by Eligible Shareholders under the Top-Up Facility | 27,724,904 |
Total New Shares | 236,538,079 |
Allotment of the New Shares will occur on 3 February 2017.
Subject to clearance of funds in respect of the above applications the shortfall is 527,553,373 shares amounting to $4,220,427.
The Offer was fully underwritten by 153 Fish Capital Pte Ltd. The underwriters will place the shortfall with a number of institutional and sophisticated investors.
Regards
Rachel Ryan Company Secretary
Empire Energy Group Ltd. published this content on 31 January 2017 and is solely responsible for the information contained herein.
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