White Energy completes $45m convertible note issue

Ralph Wragg Australian Business News

PUBLICATION: Ralph Wragg Australian Business News
DATE: 15 October 2007

White Energy completes $45m convertible note issue

Sydney - Monday - October 15: (RWE Aust Business News) - White Energy (ASX:WEC) has completed a $45 million unsecured convertible note issue.

The notes are convertible into ordinary shares at $3.44 each which represents a 20 per cent premium to the 30-day average closing price of the shares prior to Friday's issue date.

The capital will be used to accelerated the roll out and commercialisation of White Energy's patented Binderless Coal Briquetting process with particular focus on the United States.

• White Energy completes $45m convertible note issue