10 February 2017
ASX Limited Electronic lodgement
Subscription Agreements Update
Xstate Resources Limited (ASX:XST) (“Xstate” or “the Company”) provides an update in regards to the Subscription Agreements funding announced on 19 December 2016.
As previously advised Xstate has entered into binding Subscription Agreements with four sophisticatedAsian investors to raise a total of $25,000,000 at 3.8 cents per share to fund the acquisition of the Company’s intended Los Angeles Basin oil fields transaction.
Sanston Securities Australia Pty Ltd (“Sanston”), the Company’s corporate advisors to the capital raising, has advised that there continue to be delays with the transfer of the full subscription amount into Australia from Indonesia. As a result of the latest delay the investors are in formal breach of their Subscription Agreements and have been issued with breach notices by Xstate.
Representatives of Sanston have spoken with the investors and Maybank, the bank making the transfer on behalf of the investors, and will be meeting with Maybank in Jakarta in the coming week. In the interim Maybank has provided Xstate with an irrevocable undertaking that the total funds of A$25,000,000 will be in Australia no later than February 15, 2017.
Despite the delays with funding, the Company currently has no reason to believe it will not be in a position to complete financial close of its Los Angeles Basin oil fields acquisition on February 17, 2017.
- Forums
- ASX - By Stock
- XST
- Ann: Funding Update - 10-Feb-2016
Ann: Funding Update - 10-Feb-2016, page-2
- There are more pages in this discussion • 189 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XST (ASX) to my watchlist
(20min delay)
|
|||||
Last
1.8¢ |
Change
-0.001(5.26%) |
Mkt cap ! $5.787M |
Open | High | Low | Value | Volume |
1.8¢ | 1.9¢ | 1.8¢ | $5.401K | 299.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 78301 | 1.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.9¢ | 257275 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 78301 | 0.018 |
1 | 17647 | 0.017 |
3 | 1115796 | 0.016 |
2 | 651025 | 0.015 |
6 | 1061257 | 0.014 |
Price($) | Vol. | No. |
---|---|---|
0.019 | 257275 | 2 |
0.020 | 189062 | 4 |
0.021 | 200000 | 1 |
0.022 | 227500 | 2 |
0.023 | 143521 | 2 |
Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
|
|||||
Last
1.8¢ |
  |
Change
-0.001 ( 0.00 %) |
|||
Open | High | Low | Volume | ||
1.7¢ | 1.8¢ | 1.7¢ | 109700 | ||
Last updated 15.33pm 02/05/2024 ? |
Featured News
XST (ASX) Chart |
The Watchlist
RDN
RAIDEN RESOURCES LIMITED
Dusko Ljubojevic, MD
Dusko Ljubojevic
MD
SPONSORED BY The Market Online