By Devika Patel
Knoxville, Tenn., Sept. 18 -Eastern Star Gas Ltd. announced it plans a A$25.85 million private placement of shares.
The company plans to sell 60,823,530 ordinary shares at A$0.425 each to Patersons Securities Ltd.
Proceeds will be used for coal seam gas development, local gas pipeline and associated infrastructure and working capital.
Based in Sydney, Australia, Eastern Star is an oil and gas exploration company.
| Issuer: | Eastern Star Gas Ltd.
|
| Issue: | Stock
|
| Amount: | A$25.85 million
|
| Shares: | 60,823,530
|
| Price: | A$0.425
|
| Warrants: | No
|
| Investors: | Patersons Securities Ltd.
|
| Pricing date: | Sept. 18
|
| Stock symbol: | Australia: UCL
|
| Stock price: | A$0.47 at close Sept. 18
|
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