Westralian Gas extends SPP closing date
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Friday, 18 June, 2010 - 13:21
Westralian Gas and Power has extended the closing date for its Share Purchase Plan (SPP) blaming adverse conditions on the Australian share market.
On 3 May, the company announced plans to raise $1.52 million by way of a SPP.
In a statement Westralian Gas said it decided to extend the closing date for the SPP because since its announcement "the Australian share market has experienced adverse conditions due to international factors and proposed new taxes announced by the Australian Federal Government."
The closing date of the SPP is now 23 July.
The company said this was to ensure that all eligible shareholders have the opportunity to participate in the SPP in an improving market environment.