energy mad update

Media Release
28 September 2011
Energy Mad extends IPO Period
Energy Mad has decided to keep its Initial Public Offer open until October 12 following a Board review of applications received by the closing date last Friday (23 September).
Chairman Rick Ramsay said whilst applications continued to arrive at Link Market Services, that based on funds received and projections over the next few days, it was unlikely the Offer would meet the $5 million minimum subscription threshold without an extension to the offer period.
He said the Board recognised there is current uncertainty in the global financial markets, particularly in the equities markets. In addition the impact of the new financial advisors regime appeared to be significantly limiting the ability of brokers to make recommendations to their clients.
The decision to extend was based on continuing discussions with a potential strategic and several institutional investors.
“We were unable to conclude these discussions before the IPO closure last Friday and the extension will give us time to potentially reach a positive conclusion.”
Mr Ramsay said ACC, a pre-IPO investor in Energy Mad, had subscribed for a significant number of shares under the offer1 and there had also been pleasing support from other institutional investors.
ENDS
For More Information Contact:
Rick Ramsay Chairman
(021) 042 3265
or
Tom Mackenzie, Co-founder
(021) 182 2497 or [email protected]