Melbourne, Jan 16, 2009 AEST (ABN Newswire) - Environmental Clean Technologies Limited (ASX:ESI) advises that it has issued 11,000,000 shares and 32,000,000 options to Fiori Pty Ltd (Fiori). The shares were issued at a price of 2 cents per share. The options (Options) are 2 free attaching options for each share issued on the capital raising and may each be exercised at any time prior to 16 January 2014 for one fully paid ordinary share at an exercise price of 2 cents.
ESI intends to offer all shareholders the ability to participate in a similar issue through a share purchase plan (SPP) to be offered in the near future. The terms of the Options offered under the SPP will be the same as those issued to Fiori and Fiori has offered to participate in the underwriting of the SPP, If ESI is able to comply with the requirements of Chapter 2 of the ASX Listing Rules, which it expects it will be able to do, it will apply for all of the Options to be listed for quotation on the ASX.
ESI expects to be able to provide full information about the SPP in approximately one week from the date of this announcement.
About Environmental Clean Technologies Ltd
Environmental Clean Technologies Limited (ASX:ECT) bridges the gap between the current high emission reality and the zero-emission world of the future. ECT's technology aims to play a key role in the transitional pathway to net zero by utilising abundant low rank and waste fuel sources in a new, clean way. ECT's technology suite creates clean and reliable applications and products for the energy, agricultural and industrial sectors.
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