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Tlou Energy Ltd completes retail entitlement offer


Thursday, 26 Dec 2013 05:27pm EST 

Tlou Energy Ltd:Says a successful completion of the retail component of the previously announced non-renounceable entitlement offer, raising about A$4.8 million.The placement and institutional components of the offer was settled on Dec. 6 and raised about A$8.6 million.The company has therefore raised gross proceeds of about A$13.4 million from the equity raising announced to the ASX on Nov. 29.The proceeds of the equity raising will be applied to an expanded program at Karoo Central and to corporate overheads and additional working capital.As announced on Nov 29, the retail entitlement offer was fully underwritten.The shortfall of about four million shares (A$1.2 million) has been subscribed for by the underwriters or sub-underwriters.The allotment of new shares under the retail entitlement offer will occur, Dec. 27 and ASX trading of the new shares is expected to commence on , Dec. 30. 

Company Quote

0.295
-0.0050 -1.67%
18 Jul 2014