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14 Nov 2008 12:30
For immediate release 14 November 2008
Alternative Energy Limited
Share Buyback
Alternative Energy Limited ('Alternative Energy' or the 'Company') announces that between 9 September 2008 and 11 September 2008 it purchased 40,042,966 of its own ordinary shares in the share capital of the Company ('Ordinary Shares') at an average price of US$0.043 per share. Full details of the purchases are as follows:
|
Date purchased |
Shares purchased |
Price (US$) |
Consideration (US $) |
|
9/9/2008 |
26,666,666 |
0.030 |
800,000 |
|
11/9/2008 |
8,264,800 |
0.006 |
52,880 |
|
11/9/2008 |
1,805,600 |
0.137 |
247,943 |
|
11/9/2008 |
3,305,900 |
0.03 |
99,177 |
The purchase represents 3.50% of the Ordinary Shares in issue and is pursuant to the articles of the Company, a resolution passed by the directors and the authority granted at the EGM of the Company on 16 May 2008.
The shares that have been purchased will be held in Treasury and are not intended to be cancelled. The purchase will reduce the number of Ordinary Shares (not including those held in Treasury) in issue to 1,143,049,598.
ENDS
|
For further information, please contact: |
|
|
Alternative Energy Limited |
|
|
Christopher Nightingale, Chairman |
Tel: +65 6532-2122 |
|
Richard Lascelles, Director |
Tel: +44 (0) 207 408 1067 |
|
Beaumont Cornish Limited Roland Cornish |
Tel: +44 (0) 20 7628 3396 |
ALR.L (ALR)
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