15/10/2007

Article Details

Source: Ralph Wragg Australian Business News

Author: Author

Article Date: 15/10/2007

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Summary

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.