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0.8¢ whitebark energy ltd

Ann: Entitlement Offer Results, page-3

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steeletheone

573 Posts.

78

03/05/22

08:42

Post #: 61161823
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Originally posted by Mondo1960: ↑

FROM THE EXTENSION ANNOUNCEMENT
The Company advises that it has extended the closing date of the Offer by 2.5 weeks to allow for the release of the Whitebark Half Year Accounts prior to the close of the Offer. The new closing date is 27 April 2022.
Whitebark’s ability to be reinstated to official quotation with the Australian Securities Exchange (ASX) is dependent upon the Company raising a minimum of $2.5 million under the offer. In the event that the minimum subscription is not met, all application funds received under the offer will be returned to shareholders

On my reading of this announcement WBE has raised $1.937m so short of the target above
So I guess the BOD will need to pick up some of the shortfall shares to get WBE over the line
Deal not done yet

Expand

my reading is that they are about $600K short of funds needed for ASX relisting.
the shortfall is being addressed by adelaide equities as lead manager.
there's no mention of what amount is the shortfall they are addressing!!

WBE Price at posting: 0.3¢ Sentiment: Hold Disclosure: Held
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