REG - 88 Energy Limited - Proposed Capital Raising <Origin Href="QuoteRef">88E.AX</Origin>

88 EnergyAnnouncement

20/04/2016 15:00

RNS Number : 8223V
88 Energy Limited
20 April 2016
88 Energy Limited
(the "Company")
Proposed Capital Raising
Further to the Company's announcement earlier today regarding the trading halt and proposed capital raising, the Company confirms that it is currently seeking to obtain subscriptions for new ordinary shares at a price of 3.5 cents per share (0.019 per share), to raise between AUS$10 million (c.5.43 million) and AUS$15 million (c.8.14 million).
It is currently intended that any such capital raising will utilise the Company's existing authorities and will not be subject to shareholder approval. The Company confirms that the terms outlined above are indicative only and there can be no guarantee that a capital raising will be completed on these terms or at all.
For further information:
Australia



88 Energy Ltd
admin@88energy.com
+61 8 9485 0990



Hartleys Ltd
As Corporate Advisor
Mr Dale Bryan
+61 8 9268 2829



United Kingdom



Cenkos Securities Plc
As Nominated Adviser

Mr Neil McDonald
Tel: +44 (0)131 220 9771 / +44(0)207 397 1953
Mr Derrick Lee
Tel: +44 (0)131 220 9100 / +44 (0)207 397 8900


This information is provided by RNS
The company news service from the London Stock Exchange
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