Brief: Entek Energy ltd announces share placement and capital restructure

Capital group

10/11/2016 22:12

Nov 11 (Reuters) -    Entek Energy Ltd  ETE.AX : 
    * Has recognised need to diversify its portfolio given 
financial and logistical constraints with its current assets 
    * Received commitments from sophisticated and professional 
investors for a share and option placement 
    * Entek is offering all shareholders with unmarketable 
parcels opportunity to sell these shares into a facility set up 
for that process 
    * Expected to have about 287 million shares on issue with 
expected additional funds raised in excess of $3 million to 
bolster entek's existing cash reserves 
    * Upon completion of share consolidation, entek intends to 
undertake 1:1 non- renounceable rights issue to be priced at 
$0.02 per share 
    * Placement and capital restructure-ete.ax 
 
 
     
     
    Source text for Eikon:  ID:nASXkzLYR  
    Further company coverage:  ETE.AX  
 
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