MEO Australia announced that the Share Purchase Plan, which closed Friday 12 th October 2012, has raised $9.3 million. 1,181 shareholders participated in the SPP.
MEO will issue 46.53 million new shares on Monday 22 nd October 2012 and these shares will be eligible to commence trading from Tuesday 23 rd October 2012. Holding statements will be dispatched on 23 rd October 2012 to shareholders that participated in the SPP.
Funds raised under the SPP will be used to provide ongoing working capital.
MEO’s CEO and MD Jürgen Hendrich commented on the announcement: “I am delighted with the support from shareholders who participated in the SPP, particularly in light of the limited time the SPP remained open. We look forward to positive results from our current drilling campaign to drive value creation for all shareholders.”
LNG World News Staff, October 19, 2012; Image: Jurgen