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Gas2Grid Ltd announces discontinuation of non-renounceable rights issue

Wednesday, 11 Jun 2014 07:59pm EDT 

Gas2Grid Ltd:Says that on April 2, Gas2Grid launched a one for four non-renounceable rights issue to raise about A$5,102,175 (before transaction costs).Under rights issue, eligible shareholders with registered addresses in Australia and New Zealand were able to apply for one new share for every four shares held on April 11.Issue price was to be A$0.03 per new share.For every new share issued, applicant was to receive one new option for no additional consideration.Since launch of rights issue shares of Gas2Grid Ltd have traded at or below offer price and there are a low number of acceptances received to date.In light of those circumstances, the company has decided that it will not proceed with previously announced rights Issue with immediate effect and will return any application moneys received to date. 

Company Quote

-0.0030 -21.43%
28 Nov 2014