Monday, September 27, 2010

Falcon Energy

Falcon Energy: Proposes renounceable non-underwritten rights issue of warrants at of $0.10, on basis of 1 warrant for every 5 shares. Each warrant carries right to subscribe for 1 share at ex price of $0.40 and period for 3 yrs. Grp expected to raise $16.1m if all shareholders subscribe to warrants, & $65.1m should warrants be subsequently converted...

Proceeds will be used to strengthen grp’s B/S, provide additional financial flexibility and expand capital structure. Exercise aims to further attract and encourage shareholders to increase equity participation.

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