News and Announcements
Placement of SPP Shortfall and New Funding Facility
- Published February 29, 2012 3:30PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
The Company has closed the placement of the Share Purchase Plan (SPP) shortfall having received acceptances for 31,400,000 shares at $0.04, amounting to $1,256,000. These shares will be issued immediately following settlement of the subscription monies.
Also, the Company advises that it has received confirmation from Mr Ian Campbell, a director of the Company, that he will provide a funding facility to AnaeCo of $10 million. This funding facility will be part equity and part loan. The Company and Ian Campbell are still to agree on all the detailed terms and conditions of the facility, and given he is a related party and already has a relevant interest of 19.6% in the Company’s issued capital, the Company will be seeking shareholder approval to some of these terms and conditions before they can be implemented.
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