EEL - 1 for 2 RIGHTS ISSUE Announced "Envirostar"

  1. 713 Posts.
    Rights Issue of Shares


    HOMEX - Sydney

    EnviroStar Energy Limited (EEL) announces that it is undertaking a
    Rights Issue of shares to raise a maximum of $5.76 million.

    The Rights Issue is a renounceable rights issue (Rights Issue) of 1
    new ordinary share (New Share) for every 2 ordinary shares held by a
    Shareholder on the Record Date, at an issue price of $0.20 per New
    Share, payable in full on application. The maximum number of New
    Shares that can be issued pursuant to the Rights Issue is 28,809,945
    New Shares. The Record Date is 5pm Sydney time on 29th May, 2002.

    EnviroStar is seeking to raise funds under the Rights Issue to
    facilitate the completion of its 5MW waste to energy power plant at
    Stapylton, Queensland and for its working capital requirements.

    The Prospectus for the Rights Issue was lodged with the Australian
    Securities and Investments Commission on 17th May, 2002.

    Notices about the Rights Issue will be sent to shareholders on 21st
    May, 2002. Rights trading will commence on the Australian Stock
    Exchange Limited on 23rd May, 2002 and the Prospectus and Entitlement
    and Acceptance Form will be dispatched to shareholders by 3rd June,

    The last day of Rights trading will be 5th July, 2002 and the last
    day for acceptance and payment in full will be 12th July, 2002.
    Shareholders' statements for New Shares will be dispatched by 31st
    July, 2002 and trading in the New Shares commences no later then 1st
    August, 2002.

    For further information please contact Jim Docherty, Company
    Secretary, via the contact points stated below.

    Telephone Number: (02) 9232 0788.

    Facsimile Number: (02) 9232 0799.

    Email address: [email protected]

    Web Site:

    W J Docherty

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.