Australia's Greenvale Energy tumbles on discounted share purchase plan

Greenvale Energy

07/06/2024 03:45

** Shares of Greenvale Energy  GRV.AX  fall as much as 35.3%
to A$0.055, posting their biggest intraday percentage decline
since March 30, 2020
    ** Stock hits its lowest level since Nov. 8, 2022
    ** Torbanite explorer says it will undertake a share
purchase plan to raise A$1.9 mln ($1.27 mln)at A$0.05 per share
    ** Offer price represents a 41.2% discount on co's last
close
    ** Around 1.5 mln shares change hands, compared with the
30-day average volume of 337,000
    ** Stock down 10.5% YTD, based on last close




($1 = 1.4999 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))