TMK Energy (ASX: $TMK) Share Purchase Plan details

TMK Energy Limited (ASX: $TMK) has announced a Share Purchase Plan (SPP) offering eligible shareholders the opportunity to acquire additional fully paid ordinary shares in the Company at an issue price of $0.004 per share. The SPP aims to raise up to $1.5 million and is open to shareholders with registered addresses in Australia or New Zealand as at the Record Date of 20 March 2024.

Executive Commentary on Share Purchase Plan

The Company's Chief Executive Officer, Brendan Stats, expressed the Company's pleasure in offering the Share Purchase Plan to eligible shareholders, emphasizing the opportunity it provides for shareholders to participate in the Company's capital raising activities. He highlighted the intention to raise up to $1.5 million under the Plan, with the ability to accept oversubscriptions, and the issuance of one free attaching Option for every Share subscribed for and issued under the Plan.

Summary of Share Purchase Plan and Outlook

TMK Energy's Share Purchase Plan offers eligible shareholders the opportunity to purchase up to $30,000 worth of shares at an issue price of $0.004 per share, with the aim of raising a maximum of $1.5 million. The Company reserves the right to accept oversubscriptions and may issue one free attaching Option for every Share subscribed for and issued under the Plan. The funds raised will be used to accelerate commercial gas flows through drilling of additional infill production wells at the Gurvantes XXXV Coal Seam Gas Project and for additional commercialization efforts, including sourcing strategic partnerships. Shareholders are encouraged to seek independent financial and taxation advice before making any investment decision.