AuDAX Resources Limited (ASX:ADX) Entitlement Issue Closure And Notice of Shortfall
Perth, June 3, 2010 AEST (ABN Newswire) - AuDAX Resources Limited (
ASX:ADX) (PINK:ADXRF) advises that the recent renounceable Entitlements Issue on a 1 for 6 ratio, offering 48,205,065 Ordinary Shares at A$0.15 cents closed on 28 May 2010. The results of the Entitlement Issue are as follows:
- Total number of shares on offer:48,205,065
- Total number of shares validly applied for: 26,934,747
- Total value of shares validly applied for: A$4,040,238.50
- Number of applications received: 604
- Pro-rata shortfall shares: 21,270,318
The issue is underwritten by Veritas Securities Limited. Veritas Securities Limited has been notified of the Shortfall.
About ADX Energy Limited
ADX Energy Limited's (
ASX:ADX) (OTCMKTS:ADXRF) is an Australian Stock Exchange (ASX) listed International Energy Explorer which is soon to become a Producer. The Company's Geographical focus is Onshore Europe and Offshore Mediterranean with a portfolio consisting of recently acquired Production as well as Appraisal, Development and Exploration Assets. ADX's interests are located in Romania, Italy, Tunisia and most recently Austria. The Company's immediate focus is on low cost, low risk, profitable resource commercialisation opportunities onshore and higher cost higher reward offshore projects in the longer term. The Company is headquartered in Perth, Western Australia with additional operating offices in Bucharest (Romania) and soon to be Vienna (Austria). The Company also has representative offices in Italy and Tunisia.
ADX Energy's vision is to establish a stable cash producing platform onshore Europe and develop a number of rapid resource to reserves opportunities as well as low risk exploration potential with access to infrastructure in favourable fiscal and operating environments.
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