25/10/2007 - 10:00

Strike Oil finalises $10m capital raising

25/10/2007 - 10:00

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Perth-based oil and gas explorer Strike Oil Ltd has issued 16.9 million shares to shareholders through an entitlements issue, alloting the shortfall of the $10 million capital raising.

Strike Oil finalises $10m capital raising

Perth-based oil and gas explorer Strike Oil Ltd has issued 16.9 million shares to shareholders through an entitlements issue, alloting the shortfall of the $10 million capital raising.

The company closed the entitlements issue earlier this month after shareholders took up 61 per cent of the offer.

Strike plans to use the money raised to fund pat of its planned drilling and development program.

 

The full text of a company announcement is pasted below


I am pleased to provide the following update on the company's entitlements issue originally announced on 12 September.

Today, 24 October, the company has issued 16,922,347 ordinary fully paid shares to new shareholders pursuant to the entitlements issue. This represents the allotment of the remaining shortfall and finalises the issue. The total amount raised through the issue was $10.05 million.

This allotment takes the total number of company shares on issue to 327,158,430.

A cleansing statement to permit the on-sale of the shares will follow this announcement.

 

Strike Oil Limited (ASX Code: STX) Notification under section 708A(5) of the Corporations Act 2001 (Cth)
Strike Oil Limited (Strike Oil) gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act) that:
1. Strike Oil has issued 46,737,000 fully paid ordinary shares without disclosure to investors under Part 6D.2 of the Corporations Act pursuant to a pro rata non-renounceable entitlement offer announced to ASX on 12 September 2007.
2. As at today's date:
(a) Strike Oil has complied with the provisions of Chapter 2M of the Corporations Act as they apply to Strike Oil;
(b) Strike Oil has complied with section 674 of the Corporations Act; and
(c) there is no information to be disclosed which is "excluded information" as defined in section 708A(7) of the Corporations Act.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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