Ann: $50m capital raising to accelerate developme, page-2

re: Ann: $50m capital raising to accelerate d... The Directors of Bow Energy Ltd (Bow) are pleased to announce that Bow has entered into
binding commitments to raise a minimum of $50 million via:
􀂃 a placement of 32 million shares at $1.25 per share to raise $40 million to Institutional
and Sophisticated Investors; and
􀂃 a Share Purchase Plan (�gSPP�h) underwritten to $10 million which will be offered to
eligible Shareholders at $1.25 per share. The SPP raising will be capped at $37 million.
The funds raised, together with Bow�fs existing cash reserves, will be utilised for:
􀂃 the development of a 30 megawatt gas�]fired power station to be fuelled by gas from
Bow�fs Blackwater CSG field;
􀂃 further exploration and appraisal of the company�fs CSG tenements; and
􀂃 other corporate and offer costs and to provide additional working capital.
800,000 ($1.0m) of the Placement shares are being subscribed for by entities related to Mr
Stephen Bizzell and Mr Nicholas Mather, directors of Bow Energy Ltd. The issue of these
shares to the director�]related entities is subject to shareholder approval, to be sought in
December 2009.
Bow�fs Managing Director Ron Prefontaine said, �gwe are very pleased with the strong support
for the share placement by both existing and new institutional investors confirming the
acceptance of Bow�fs development strategy and quality of its CSG acreage.�h
�gBow is also pleased to announce that it intends to offer eligible shareholders an opportunity
to participate in the capital raising through the SPP�h.
�gFollowing completion of these raisings, Bow will have up to $95 million cash (after costs)
available to put towards the company�fs exploration, appraisal and development plans.�h
Prefontaine concluded.
All Bow Shareholders on record as at 7pm (Sydney time) on 19 November 2009 with
registered addresses in Australia, New Zealand or Hong Kong will be eligible to participate in
the SPP and subscribe for new shares worth $2,000, $5,000, $10,000 or $15,000 each at the
issue price of $1.25 per share. The SPP issue price represents a discount of 14% to the average
closing price over the last five days of trading of the shares of Bow on the ASX prior to the
date of this announcement. The SPP raising will be capped at $37 million.