BPH Energy Limited (ASX:BPH) Announce Underwriting Details
Perth, Dec 21, 2010 AEST (ABN Newswire) - BPH Energy Ltd (
ASX:BPH) (formerly BPH Corporate Ltd) is pleased to advise that it has successfully completed its post consolidation capital raising receiving subscriptions in excess of A$11.5M.
A total of 50,951,205 ordinary fully paid shares and 10,190,241 free attaching options were allotted and issued into the issuer sponsored sub register on 14 December 2010.
There were no shares issued to the Underwriter Grandbridge Securities. However, a total of 11,061,947 shares were issued to MEC Resources (ASX:MMR) (MEC) in connection with its sub-underwriting commitment.
Grandbridge Securities has been paid of A$466,290 for the services provided during the raising. MEC will receive a sub-underwriting fee equivalent to 3% of the funds raised by MEC. Payment of MEC's sub-underwriting fee is the responsibility of Grandbridge Securities.
About BPH Energy Limited
BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.
The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.
BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.
BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).
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