Closure of Unmarketable Parcel Sale Facility
Sydney, Sep 18, 2019 AEST (ABN Newswire) - Empire Energy Group Limited (
ASX:EEG) (EEGUF:OTCMKTS) is pleased to announce the completion of the share sale facility for holders of fully paid ordinary shares valued at less than $500 ("the Facility").
The Directors determined a less than marketable parcel was any shareholding of less than 2,173 Shares based on the $0.23 per share closing price as at the Record Date (as defined in the announcement dated 1 August 2019).
The final number of shares sold under the Facility was 884,075 Shares held by 1,482 shareholders. The Company received share retention forms from 193 shareholders holding 113,886 Shares, who chose to retain their shares despite being eligible for the Facility.
The shareholders whose shares were sold through the Facility shall receive $0.20 per Share without having to pay brokerage or other costs. This was the closing EEG share price on the Closing Date for receipt of Retention Forms (13 September 2019).
Shareholders whose shares were sold under the Facility will receive payment for their shares on or shortly after 8 October 2019.
The sale proceeds will be paid in Australian Dollars by direct credit to the relevant recipients. Non-resident holders or those holders who have not provided their direct credit details will be paid in Australian dollars by cheque.
About Beetaloo Energy Australia Limited
Beetaloo Energy Australia Limited (ASX:BTL) (OTCMKTS:EEGUF) holds 28.9 million acres of highly prospective exploration tenements in the McArthur Basin and Beetaloo Sub-basins, Northern Territory. Work undertaken by the Company since 2010 demonstrates that the Eastern depositional Trough of the McArthur Basin, of which the Company holds around 80%, has enormous conventional and unconventional hydrocarbon potential. The Beetaloo Sub-basin, in which Beetaloo Energy holds a substantial position, has world-class hydrocarbon volumes in place and a ramp up in industry activity to appraise substantial discoveries already made by major Australian oil and gas operators is ongoing.
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