Ceramic Fuel Cells Results of Rights Issue

Ceramic Fuel Cells Results of Rights Issue

Ceramic Fuel Cells Limited (AIM / ASX: CFU) is pleased to announce the result of its Rights Issue made to qualifying participants within Australia and New Zealand and its Overseas Offer made to qualifying participants outside of Australia and New Zealand and certain other territories.

Approximately 88% of the Rights Issue Shares were subscribed for by shareholders.  The Company will issue 176,179,873 fully paid ordinary shares at the issue price of 5 cents to raise an additional A$8.8 million (£4.3 million).

Approximately 95% of the Overseas Offer Shares were subscribed for by shareholders.  The Company will issue 99,906,445 fully paid ordinary shares at the issue price of 2.2p to raise an additional £2.2 million (A$4.6 million).

The total amount raised under the Rights Issue and Overseas Offer is A$13.4 million (£6.5 million).  These funds are in addition to A$20.1 million (£9.0 million) raised under the recently completed placing to institutional investors and subscription by certain cornerstone investors.

Applications have been made for the Rights Issue Shares and Overseas Offer Shares to be admitted to trading on ASX and AIM and it is expected that dealings on ASX and AIM will commence on or around 21 April 2009.

On admission, the Company will have 1,029,878,680 ordinary shares on issue.

No Comments

Post a Comment