News and Announcements
Fortescue Metals Group Ltd to Become a Strategic Cornerstone Investor in Oil Basins Limited
- Published November 15, 2012 2:07AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Oil Basins Limited (ASX codes: OBL, OBLOB and/or Company) is pleased to advise the Australian Stock exchange that it has secured a Strategic Cornerstone Investment in the Company by Fortescue Metals Group Ltd (ASX code: FMG).
The FMG investment will be by way of an immediate Strategic Placement comprising 120 million new fully paid OBL ordinary shares from OBL’s existing placement capacity. In addition, FMG will be issued 100 million new 9 cent unlisted (OBLAI) options, exercisable on or before 30 June 2016 of which 54 million OBLAI options will be issued immediately and a further 46 million OBLAI options will be subject to an affirmative vote at an Extraordinary General Meeting (EGM) of OBL Shareholders to be held on or before 15 January 2013.
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