Last checked at 2 Mar 2017 07:00
This announcement contains inside information
88 Energy Limited
(the "Company")
ASX Trading Halt and Proposed Capital Raising
88 Energy Limited (the "Company") announces that its shares have been placed in a trading halt on the Australian Securities Exchange ("ASX") pending the release of an announcement in relation to a potential capital raising.
Indicatively, the Company is seeking to raise gross proceeds of up to A$17 million (c.£10.6 million) at an issue price at or around A$0.037 (£0.023) per share. The shares in the Company will continue to trade on AIM during this period.
It is currently intended that any such capital raising will utilise the Company's existing authorities and will not be subject to shareholder approval. The Company confirms that no terms for any such capital raising have been agreed and there can be no guarantee that a capital raising will be completed.
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