EnergyAction Limited (ASX: $EAX) has announced a partially underwritten 1 for 6 non-renounceable pro-rata entitlement offer of new ordinary shares at an offer price of A$0.20 per new share. The offer, which closes at 5.00pm (AEST) on Monday, 6 May 2024, aims to raise approximately $1.004 million. Shareholders in Australia, New Zealand, Hong Kong, and the United Kingdom have the opportunity to subscribe for 1 new share for every 6 ordinary shares held at 7.00 pm (AEST) on Friday, 19 April 2024, at the price of $0.20 per new share. The net proceeds of the offer are intended to be used to make additional repayments of senior debt owed to Commonwealth Bank of Australia Limited.
On 24 April 2024, Mr. Murray Bleach, the Chairperson of EnergyAction, extended an invitation to shareholders to participate in the entitlement offer. The offer, which is partially underwritten, aims to raise approximately $1.004 million and is intended to make additional repayments of senior debt owed to Commonwealth Bank of Australia Limited. Eligible shareholders in Australia, New Zealand, Hong Kong, and the United Kingdom have the opportunity to subscribe for 1 new share for every 6 ordinary shares held at 7.00 pm (AEST) on Friday, 19 April 2024, at the price of $0.20 per new share. The offer is non-renounceable and the entitlements will not be tradeable on the ASX or otherwise transferable.
The entitlement offer by EnergyAction Limited presents an opportunity for eligible shareholders to participate in the issuance of new ordinary shares at A$0.20 per share. The offer, which closes on 6 May 2024, is partially underwritten and aims to raise approximately $1.004 million. The net proceeds of the offer are intended to be used to make additional repayments of senior debt owed to Commonwealth Bank of Australia Limited. Shareholders are encouraged to carefully consider the offer and consult their professional advisers before deciding whether to participate. The company's continuous disclosure announcements to the ASX are available for shareholders to access further information. The offer is subject to certain conditions and restrictions, and shareholders are advised to seek independent advice regarding the taxation implications associated with participating in the offer.