Ann: Trading Halt, page-44

88 Energy Limited

Proposed placing to raise up to A$12 million

88 Energy Limited ("88 Energy" or the "Company") (ASX, AIM: 88E) today announces that it proposes to raise up to A$12 million (before expenses) pursuant to a placing (the "Placing") of new ordinary shares of no par value in the Company (the "Placing Shares") at a price per Placing Share of A$0.008 (equivalent to 0.45 pence) (the "Placing Price"). The Placing Price is equivalent to a discount of 27% to the closing price of the Company's shares on the Australian Securities Exchange ("ASX") on 9 February 2021, being the latest practicable date prior to this announcement, and a discount of 20% to the volume weighted average price on the ASX for the thirty days to 9 February 2021. The Company also announces that its shares have been placed in a trading halt on the ASX pending the release of an announcement in relation to the completion of the Placing

https://uk.advfn.com/p.php?pid=nmona&article=84290668

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