Overview of Kalina Power's recent decision

Kalina Power Limited (ASX:KPO) has announced its decision to undertake a pro rata non-renounceable entitlement offer and a placement to sophisticated, professional, and institutional investors. The company aims to raise approximately A$2.53 million before expenses through the issuance of new shares at $0.01 per share, along with free attaching options for eligible shareholders and participants in the placement.

Executive commentary on the decision

The Entitlement Offer and Placement reflect our commitment to strengthening the company's financial position and providing opportunities for our existing shareholders to participate in the capital raising. We are pleased to have the support of our management and existing large shareholders, and we believe that these initiatives will contribute to the long-term growth and stability of Kalina Power.

Summary of the announcement and outlook

Kalina Power Limited (ASX:KPO) has announced a pro rata non-renounceable entitlement offer and a placement to raise approximately A$2.53 million. The Entitlement Offer will involve the issue of approximately 103 million shares, while the Placement will involve the issue of approximately 150 million shares, both priced at $0.01 per share. Eligible shareholders will have the right to apply for additional shares in excess of their entitlement under a shortfall offer. The company's decision to provide existing shareholders with the opportunity to maintain their investment demonstrates its commitment to shareholder value. The initiatives are expected to contribute to the company's corporate strategy and financial position, supporting its future endeavors and growth.