WEC Raises $100 mln at $2.40 a share, proposes SPP at same price if waiver obtained

11/11/2009

Article Details

Source: OzEquities News Bites

Author: Jenny Prabhu

Article Date: 11/11/2009

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Summary

White Energy Company Ltd announced Southern Cross Equities Ltd has now formalised its unconditional offer on behalf of its institutional client base to provide WEC with $100 million of equity financing by way of a placement of 41.67 million shares at $2.40 per share.

A SPP will be offered at the same price, for up to $5,000 worth of shares underwritten by Southern Cross Equities and capped at $6 million. Since one SPP has already been conducted this year, this SPP will proceed if a waiver from the listing rules is obtained.

WEC up 10c to $2.75.