Vintage Energy Ltd (ASX: VEN, “Vintage”) announces completion of the fully underwritten Retail Entitlement Offer (“Retail Entitlement Offer) which was announced 31 May 2023 and closed on 23 June 2023.
Valid applications from eligible retail shareholders for 31,051,032 shares were received and accepted. Eligible retail shareholders who applied for shares under the top-up facility can expect to receive the full quantum of their valid applications. An additional total of 21,493,200 shares are to be allocated to the underwriters in accordance with the terms of the underwriting agreement.
Shares issued through the Retail Entitlement Offer will rank equally with existing shares, they will be issued on Wednesday, 28 June 2023, and commence trading on Thursday, 29 June 2023.
The Retail Entitlement Offer raised $2.6 million and completes the capital raising undertaken to fund the nearterm ramp-up of production from Vintage’s Cooper Basin gas fields and provide flexibility to target additional growth through appraisal and drilling.
An institutional component, settled on 8 June 2023, raised a total of $3.0 million through a private placement and a fully underwritten accelerated non-renounceable entitlement offer. Approximately 59.3 million shares were allocated to existing shareholders in the institutional component. Both the retail and institutional components were priced at $0.05 cents per share.
MST Financial Services Pty Ltd & Taylor Collison Limited acted as Joint Lead Managers to the Placement and are acting as Joint Underwriters to the Entitlement Offer.
