QGC queensland gas company limited

In late December 2004, QGC foreshadowed a Share Purchase Plan...

  1. 580 Posts.
    In late December 2004, QGC foreshadowed a Share Purchase Plan (SPP) to raise funds to accelerate
    the certification of additional reserves and the development of gas supply arrangements for the
    proposed power station at Chinchilla and the Incitec contract. The SPP was formally opened to
    shareholders on 17 January, inviting shareholders to purchase a maximum of 20,000 shares at the
    discounted price of 25c a share. As at the time of writing, the SPP was heavily over-subscribed; the
    funding cap imposed by the ASX on funds raised will effectively cap the SPP raising at $14.8 million.
    This will be sufficient to cover the acquisition of CS Energy’s interest in Berwyndale South as well as the
    costs associated with upgrading reserves for the Incitec contract and for the proposed Chinchilla power
    station.
 
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Currently unlisted public company.

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