Empire Energy Group Accepts Application for AU$7 Million After Share Purchase Plan Closes

MT Newswires Live06-13

Empire Energy Group (ASX:EEG) closed the share purchase plan announced in May, and it accepted valid applications for a total of AU$7 million after receiving applications totaling about AU$7.8 million from 583 holders with an average application size of AU$13,335, according to a Friday Australian bourse filing.

The plan was open to 3,294 eligible shareholders, and about 43.8 million new shares will now be issued under the plan, the filing said. The shares are expected to start trading on June 16.

Investors who participated in the share purchase plan will also receive one attaching option for every two plan shares issued, subject to shareholder approval.

The plan was upsized to ensure that all eligible shareholders were given an appropriate opportunity to participate as well as to ensure that the firm is well funded to progress its Beetaloo Basin appraisal activities, per the filing.

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