The directors of BOW must be broken hearted that the ASX has...

The directors of BOW must be broken hearted that the ASX has stopped their $1m placement at 25 cents.

Now they are free to buy on the market at 20 cents or less.

Thank you ASX for saving us from committed directors wanting to provide additional funds for our company.

Here's the announcement.

16 April 2008
Placement Update
The Board of Bow Energy advise that the proposed issue of 4,000,000 fully paid ordinary
shares at $0.25 per share to Mr Mather and Mr Bizzell (directors of the Company), (the
Shares), on the terms approved by shareholders at the extraordinary general meeting held
on 8 February 2008 has not proceeded.
The Company applied for a waiver of Listing Rule 14.7 and an extension of time within which
to issues the Shares. The total subscription funds ($1,000,000) were received by the
Company and held in trust pending the results of the ASX waiver application. This waiver
was not granted by ASX.