In the same category

Eden Energy Limited

Published : October 07th, 2016

Eden $15m Capital Raising

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Australia | Carbon | Georgia | Market |

Eden $15m Capital Raising

ACN 009 253 187

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

15 SEPTEMBER 2016

EDEN ENERGY LTD - EDEN PLACES $15M MOSTLY WITH 4 INSTITUTIONS

Please see attached ASX Announcement by Eden Energy Ltd (ASX: EDE) for further details.

Background

Tasman through its wholly owned subsidiary, Noble Energy Pty Ltd, holds 493,198,298 fully paid shares in Eden (representing 42.21% of the total issued capital of Eden) and 101,356,779 EDEO options (representing 46.75% of the issued EDEO options). This equates to 1.3 EDE shares and

  1. EDEO options held for every Tasman share issued.

    Based on the last traded prices on the ASX of EDE ($0.225) and EDEO ($0.205) on 9 September 2016, this investment had a market value of $132 million, which is equivalent to 34.6 cents for every currently issued TAS share.

    Aaron Gates Company Secretary

    Level 15, 197 St George's Terrace, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866

    Email: [email protected]

    ACN 109 200 900

    AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

    15 September 2016

    EDEN PLACES $15 M

    MOSTLY WITH 4 AUSTRALIAN INSTITUTIONS

    HIGHLIGHTS

    • Eden places $15million @ 18c via Bell Potter

    • Over $13 million taken by 4 Australian institutions

    • Proceeds deliver Eden the financial capability to accelerate development of the large-scale Georgia US- based EdenCreteTM production facility, significantly de-risking this milestone project.

DETAILS

Australian carbon nanotube technologist, Eden Energy Limited ("Eden" or "the Company") (ASX: EDE) is pleased to announce that the Company has agreed to a two-tranche placement to Australian institutional and sophisticated investors, of 83,333,333 ordinary shares at an issue price of 18 cents per share, to raise A$15 million (before the costs of the issue). It is intended the proceeds will be employed to accelerate the development in 2017 / 2018 of the planned large-scale EdenCreteTM production facility in the US State of Georgia and to also provide any additional working capital as required.

Over A$13 million of the total amount raised is being placed to four Australian institutional investors. The placement was arranged by Bell Potter Securities Limited.

50 million shares will be issued immediately as the first tranche of the placement, under the Directors' 15% placement capacity to raise an initial A$9 million. The balance of 33,333,333 shares (to raise a further A$6 million) will be issued as a second tranche subject to approval by shareholders at a general meeting scheduled to be held on or around 28 October 2016.

EdenCreteTM, a carbon-nanotube enriched concrete additive developed by Eden, has undergone highly successful trials in the US and commercial sales have now commenced. As a result, Eden has attracted strong support from the Georgia state and local governments in the form of a combined US$24.7million financial incentive package to establish a plant in Augusta, Georgia.

Level 15, 197 St Georges Terrace, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866

Email: [email protected]

Additionally, EdenCreteTM which has been approved for use by the Georgia Department of Transportation ("GDOT") in its 24 hour concrete repair mix, is proposed to be used by GDOT for several forthcoming state funded highway repair projects to achieve high performance, cost effective outcomes.

The Directors of Eden resolved to undertake this capital raising at the present time because it significantly de-risks the US EdenCreteTM project in that:

  • The placement will enable Eden to fast track the initial development of the proposed large scale EdenCreteTM production facility in Georgia in 2017/ 2018 to meet the anticipated demand, regardless of possible major fluctuations and upheavals in the global financial markets; and

  • It also ensures Eden has sufficient funds immediately available to continue expanding its newly formed team of highly successful and experienced sales people, a move anticipated to significantly increase the volume of EdenCreteTM sales over the next year.

Gregory H. Solomon

Executive Chairman

2

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Australia | Georgia | All
Gold and Silver Prices for these countries : Australia | Georgia | All

Eden Energy Limited

CODE : EDE.AX
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Eden Energy is based in Australia.

Eden Energy is listed in Australia. Its market capitalisation is AU$ 61.8 millions as of today (US$ 42.3 millions, € 38.0 millions).

Its stock quote reached its lowest recent point on June 29, 2012 at AU$ 0.01, and its highest recent level on February 24, 2017 at AU$ 0.36.

Eden Energy has 1 261 129 984 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Eden Energy Limited
Annual Report 2007
Financings of Eden Energy Limited
10/7/2016Eden $15m Capital Raising
8/29/2016Group Incentive Plan - Increase in Issue of ESOP Options
Project news of Eden Energy Limited
4/11/2011EDEN ENERGY ANNOUNCES ENCOURAGING PROGRESS OF ITS PYROLYSIS ...
Corporate news of Eden Energy Limited
10/7/2016Appendix 3B
10/7/2016EdenCrete - US Update
8/29/2016Issue of Employee Options
8/2/2016Appendix 3B
7/17/2016EdenCrete Update - MARTA Project Test Results
7/1/2016Appendix 3B
7/1/2016Eden Investor Presentation
7/1/2016Investor Presentation
6/28/2016EdenCrete - Low Dosage Improvement in Abrasion Resistance
6/23/2016CNT in Plastics Research Encouraging Preliminary Results
6/19/2016EdenCrete US Update
6/16/2016EdenCrete Update - Marketing and Sales
6/14/2016EdenCrete - US Update
6/3/2016EdenCrete US Update - ASTM C494 S 180 Day Test Data
6/3/2016Appendix 3B
5/27/2016Successful A$10.35 Million Capital Raising
5/27/2016Cleansing Notice
5/27/2016Appendix 3B
5/27/2016Change of Director\'s Interest Notice
5/24/2016Successful A$10.35 Million Capital Raising
1/22/2016Major Shareholder and Directors Take Up Full Entitlement
1/20/2016Sale of UK Gas Assets
1/5/2016Dispatch of Letters to Shareholders
12/18/2015Non Renounceable Rights Issue Prospectus
12/18/2015Appendix 3B
12/18/2015Cleansing Notice
12/14/2015Placement and Pro-Rata Non-Renouceable Rights Issue
11/27/2015AGM Presentation
11/25/20152015 AGM Chairman\'s address to shareholders
11/24/2015EdenCrete Project - US Update
11/2/2015Appendix 3B
11/2/2015Notice of Annual General Meeting/Proxy Form
10/26/2015EdenCrete Project - US Update
10/22/2015Cleansing Notice
10/22/2015Appendix 3B
10/16/2015Discussions regarding the possible sale of UK gas assets
10/13/2015First Quarter Activities Report
10/1/2015EdenCrete Project - US Update
10/1/2015Appendix 3B
10/1/2015Appendix 4G and Corporate Governance Statement
10/1/2015Annual Report to shareholders
9/15/2015Options Lapse
9/3/2015Eden India to Supply 8 Optiblend Kits to ONGC
9/3/2015Appendix 3B
8/27/2015EdenCrete Project - US Update
8/12/2015Change of Directors Interest Notice
8/12/2015EdenCrete Project - US Progress Update
8/10/2015Appendix 3B
8/5/2015Appendix 3B
7/27/2015Investor Presentation
7/24/2015EdenCrete Spec Sheet
7/24/2015EdenCrete Brochure
7/24/2015Fourth Quarter Activities Report
7/16/2015EdenCrete - ARC Research Grant Application Successful
7/16/2015Notice of General Meeting/Proxy Form
4/7/2015EdenCrete Australian Trial 28 Day Results
3/27/2015EdenCrete US Trials Update
3/25/2015Half Year Accounts
3/25/2015Change of Directors Interest Notice
3/25/2015Appendix 3B
3/25/2015Change in Substantial Holding
3/25/2015Update - First Australian Tests of EdenCrete
3/25/2015EdenCrete - US Trials and Developments
3/25/2015Pro-rata Renounceable Rights Issue Results
3/25/2015Renounceable Rights Issue Prospectus
11/12/2014Eden and UKOG agree to extend merger completion date
3/25/2014New UK Gas Contract
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
AUSTRALIA (EDE.AX)
0.049+2.08%
AUSTRALIA
AU$ 0.049
10/23 16:01 -
2.08%
Prev close Open
0.048 0.048
Low High
0.048 0.050
Year l/h YTD var.
0.027 -  0.072 -30.99%
52 week l/h 52 week var.
0.027 -  0.086 -43.02%
Volume 1 month var.
550,461 4.26%
24hGold TrendPower© : 34
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2019-28.99%0.080.07
2018-42.50%0.190.04
2017-47.83%0.360.11
2016350.98%0.350.04
2015363.64%0.100.01
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.88+1.35%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 3.40-0.58%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.27+4.81%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 1.58+0.00%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.72+7.46%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+33.33%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 1.90-0.52%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 0.82-1.81%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.82+1.79%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.06-7.69%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.10+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.02+0.50%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 21.38+3.43%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.05+0.00%Trend Power :