Meurs acquires 4.3% of Aviva

South Perth-based energy company Aviva Corporation Ltd has raised $1.1 million for working capital through a placement to its major shareholder, and to WorleyParsons managing director Peter Meurs.

Mr Meurs subscribed for 15 million shares at 6c each through Candor Financial Management Ltd, giving him a 4.3 per cent stake in the company.

In an announcement to the ASX, Aviva said Mr Meurs had indicated a willingness to participate in Aviva's business strategy development.

West Perth-based mineral resource explorer Wasabi Energy Ltd, the company's major shareholder, subscribed for a further 4 million shares.

Aviva shares rose 6.25c to 6.8c at 13:30 WDT.

The full text of a company announcement is pasted below

Aviva Corporation Ltd, the Mid West Energy Company, has placed 19 million shares at 6 cents to raise $1.14 million for working capital expenses.

Mr Peter Meurs, has subscribed for 15 million shares through Candor Financial Management Pty Ltd and the balance of 4 million shares has been placed to the Company's major shareholder Wasabi Energy Limited.

Mr Meurs is a founding and major shareholder in WorleyParsons Limited and is Managing Director of WorleyParsons Australia and New Zealand Region based in Perth. Mr Meurs has substantial experience in areas relevant to Aviva's aspirations and has indicated his willingness to participate in strategy development where appropriate to enable Aviva to achieve its objectives.