South Perth-based oil and gas explorer Central Petroleum Ltd has raised $9 million through an underwritten exercise of options and share placement, the company has announced.
The full text of a company announcement is pasted below
Central Petroleum is delighted to announce the successful completion of the underwritten exercise of options with an expiry date of 30 June 2007 together with a placement of shares arranged through its underwriter, Martin Place Securities Pty Limited ("MPS"), which raised a total of $9,007,650.20 before costs.
Since the Company's announcement on 9 July 2007, a further 39,074,065 ordinary fully paid shares have been allotted under the underwriting and placement arrangements with MPS. In addition, 3 million options have been issued to MPS with a conversion price of 25 cents and an expiry date of 30 June 2010, which form part of the underwriting and placement fees due to MPS.
These issues bring the total number of securities on issue by the Company to-date to that disclosed in the Appendix 3B issued on 9 July 2007 which, for convenience, are summarised below:
| Listed ordinary shares | 165,133,639 |
| Unlisted ordinary shares | 10,789,864 |
Unlisted options exercisable at:
| 25 cents expiring 31 January 2010 | 300,000 |
| 20 cents expiring 31 May 2010 | 21,250,000 |
| 25 cents expiring 30 June 2010 | 3,000,000 |
| 20 cents expiring 20 February 2011 | 8,000,000 |
Central Petroleum would also like to advise that copies of the company's Prospectus dated 11 July 2007 for the non-renounceable entitlement issue of options, have been despatched to eligible shareholders, together with entitlement notices, in accordance with the timetable announced on 11 July 2007. The closing date of this offer is 17 August 2007.
