By Devika Patel
Knoxville, Tenn., Dec. 12 - MEO Australia Ltd. said it has raised A$62.5 million in a private placement of shares.
The company sold 50 million shares at A$1.25 each.
The oversubscribed deal was jointly managed by the company's Australian broker, Tolhurst Ltd., and London broker, WH Ireland Ltd.
Proceeds will be used to begin liquid gas and methanol project studies, to test production of the gas bearing zones in wells, for acquisitions and for drilling.
MEO Australia is a Melbourne, Australia-based company that develops methanol and liquefied natural gas projects and explores for petroleum.
| Issuer: | MEO Australia Ltd.
|
| Issue: | Shares
|
| Amount: | A$62.5 million
|
| Shares: | 50 million
|
| Price: | A$1.25
|
| Warrants: | No
|
| Settlement date: | Dec. 12
|
| Agents: | Tolhurst Ltd., WH Ireland Ltd.
|
| Stock symbol: | Australia: MEO
|
| Stock price: | A$1.33 at close Dec. 12
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
