Melbourne, May 4, 2009 AEST (ABN Newswire) - Environmental Clean Technologies Limited (ASX:ESI) announces that it expects to have raised approximately A$2.1 million pursuant to its Share Purchase Plan. The offer closed at 5:00pm on Thursday 30 April 2009. Applications were received from eligible shareholders for approximately A$1.1 million, and the Underwriters are committed to taking up a further A$1 million. Final details of the amount raised will be announced once the processing of applications is completed.
The Company has reserved the right to place the shortfall from the offer, which is expected to be approximately $1.4 million. The Directors encourage shareholders and other interested investors who wish to participate in the shortfall to contact the manager of the offer, Intersuisse Ltd, to obtain a copy of the Prospectus and the shortfall application form. The offer of shortfall is made pursuant to the Prospectus dated 14 April 2009 and on the same terms as the Share Purchase Plan, being 2 cents per share with two free options for each share subscribed.
Chief Executive of the Company, Mr Kos Galtos said "It is extremely pleasing that we have had substantial shareholder support for the Share Purchase Plan. This support demonstrates confidence in the Company and our plans for commercialisation of the Coldry and Matmor processes. Because of the availability of the shortfall there is a unique opportunity for shareholders and other interested investors to participate in the upside of Environmental Clean Technologies Limited through the innovative share and option offer".
Applications for shortfall shares and options can only be made on the application form that can be obtained together with the Prospectus from the manager of the offer, Intersuisse Ltd. Investors should consider the Prospectus in deciding whether to acquire shortfall shares and options.
Chief Executive, Mr Galtos, has notified the Company that he intends to apply for $25,000 of shortfall shares and options.
Intersuisse Limited can be contacted by calling 03 9618 8286 or emailing esioffer@intersuisse.com.au
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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