📈 Fed's first cut since 2020: Time to buy the dip? See Tech-focused stock picksUnlock AI Picks

Botala Energy completes share purchase plan to support Serowe coal bed methane project

Published 12/09/2024, 10:20 am
Updated 12/09/2024, 11:00 am
© Reuters.  Botala Energy completes share purchase plan to support Serowe coal bed methane project
BTE
-

Botala Energy Ltd (ASX:BTE) has completed its share purchase plan (SPP), raising A$200,000 via the issue of 2,666,673 new fully paid ordinary Botala shares.

The SPP follows Botala's previously completed A$850,000 placement which was strongly backed by management and the Botala Board. Both the placement and SPP have an issue price of A$0.075 per share.

Funds raised via the SPP will be used to support the development of the company’s Serowe coal bed methane (CBM) project in Botswana, including BTE’s inaugural commercial pilot program.

The funds will also contribute to research and development of renewable projects, along with general working capital and costs of the SPP.

Botala expects to issue the shares on September 13, 2024 and to commence trading on the ASX on September 16, 2024.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.