Liquefied Natural Gas Limited (LNG) announced that it had successfully completed a placement of 40,000,000 million shares at A$0.20 per share to professional and sophisticated investors to raise gross proceeds of A$8,000,000. At the same time, LNG announced that it intended to offer eligible shareholders in Australia and New Zealand the opportunity to participate in a Share Purchase Plan.
The Directors are offering existing shareholders the opportunity to invest in the Company at A$0.2065 pershare through the Plan, free of brokerage or commissions. The share price is based on the average closing price for the Company’s shares over five trading days to 26 July 2013, less a 20% discount. The 20% discount is the maximum permissible under ASX Listing Rule 7.2.
Underthe Plan, eligible shareholders are being invited to subscribe for either:
Funds raised from the Plan will primarily be applied to:
[mappress] LNG World News Staff, August 9, 2013; Image: LNG Ltd