Panax Geothermal (ASX: PAX) has near term geothermal projects in Indonesia and is also pioneering conventional geothermal technology in Australia along with projects in India.
Panax Geothermal's (ASX: PAX) shareholders approved a change of name to Raya Group (ASX: RYG), with trade to commence under the new name on the ASX from Monday 6th May 2013.
The company recently launched a Share Purchase Plan to raise up to $3 million, with a number of parties indicating an interest in underwriting some or all of the plan.
The offer is to all shareholders to purchase between $1,500 and $15,000 of new listed ordinary shares in Panax, at an issue price of $0.01 per share, with one free Attaching Option, exercisable at $0.015 and with a three year exercise period from the date of issue.
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