- ReNu Energy (RNE) closes its share purchase plan (SPP), raising $1.25 million for its renewable and clean energy investments
- About 13.85 million new shares will be issued at a price of 9 cents per share
- About 3.46 million new options will be issued with an exercise price of 7 cents per share, expiring at the end of next year
- The new shares will be issued today and begin trading on the ASX on Monday
- Shares were trading flat today at 7.1 cents each at 1:48 pm.
ReNu Energy (RNE) closes its share purchase plan (SPP), raising $1.25 million for its renewable and clean energy investments.
About 13.85 million new shares will be issued at a price of 9 cents per share.
Eligible applicants will also receive one attaching option for every four shares subscribed.
About 3.46 million new options will be issued with an exercise price of 7 cents per share, expiring at the end of next year.
The SPP was announced in December following the company’s $2.38 million placement.
The funds will be used to advance the company’s green hydrogen projects following its completion of the acquisition of Countrywide Renewable Hydrogen.
It will also be used for other renewable and clean energy investments as well as to cover the costs associated with the offer.
The new shares will be issued today and begin trading on the ASX on Monday.
Shares were trading flat today at 7.1 cents each at 1:48 pm.