Nedlands-based oil company Boss Energy Ltd today closed its initial public offer, which aimed to raise $2.5 million for the acquisition and exploration of an oil shale project in Tasmania.
The company, which issued 12.5 million shares at 20 cents each, will also allow for oversubscriptions for up to 5 million shares to raise another $1 million.
Boss will also issue a further 2.5 million shares to Daley Resources Pty Ltd, which has Malcolm Macleod as its sole director, at 10 cents each to finalise the aquisition of the Latrobe exploration licence, along with a further payment of $250,000.
The company also flagged its intention to undertake an entitlements issue of options to shareholders around three months after its shares are quoted on the ASX. The Options are intended to be offered at one cent each, on the basis of one Option for every four Shares held on the record date. The Options will be exercisable at 20 cents
per Share and will expire on 30 November 2010.
The offer was entirely underwritten by Sydney-based Findlay & Co Stockbrokers (Underwriters) Pty Ltd.
The company is chaired in an executive capacity by former Redport Ltd director Robert Grover, who also serves on the board of Contact Resources Ltd and Cervantes Seafood Ltd. He is joined on the board by technical director Ross MacLeod and non-executive director Joseph Obeid. Winton Willesee will serve as the company secretary.
Boss has retained Bentleys MRI Perth Financial Services Pty Ltd as investigating accountant, with Fairweather Lemonis providing the firm with legal advice.
