NuEnergy Gas completion of entitlement offer

NuEnergy Gas Limited (ASX:NGY) has successfully completed its Renounceable Pro-Rata Entitlement Offer, raising a total of $5,994,998.98 from 299,749,949 new shares at an issue price of $0.02. Following the allotment, the company now has a total of 1,780,705,446 ordinary shares on issue.

Executive Commentary

NuEnergy Gas Limited is pleased to announce the successful completion of the Entitlement Offer, which has resulted in a significant capital raise for the company. We are grateful for the strong support shown by our shareholders, and the funds raised will be utilized to further our strategic initiatives and drive sustainable growth. We look forward to dispatching holding statements to our shareholders following the allotment of the Entitlement Offer shares on 16 September 2024.

Summary

NuEnergy Gas Limited (ASX:NGY) has concluded its Renounceable Pro-Rata Entitlement Offer, generating $5,994,998.98 from the acceptance of 299,749,949 new shares at an issue price of $0.02. The company's total ordinary shares on issue now stand at 1,780,705,446. The successful completion of the offer reflects strong shareholder confidence and provides NuEnergy with additional capital to support its growth strategies. The company aims to utilize the raised funds to drive sustainable growth and enhance shareholder value. Shareholders can anticipate receiving holding statements following the allotment of the Entitlement Offer shares on 16 September 2024.