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Wasabi raises A$2mln from rights rump

Published: 18:19 16 Jul 2013 AEST

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Power group Wasabi Energy (LON:WAS ASX:WAS) has placed the rump of shares not taken up in its recent rights issue.

A third of shareholders took up the rights in June, but Wasabi has now placed the remaining 254.6 mln shares with one institutional investor at A0.8c, the same price as the rights issue.

The total consideration from the placing was A$2mln. There is also an option to buy the same number of shares at 0.8c by the end of next March.

Wasabi has a target of 25 megawatts (Mw) of output by 2015 and to add 25Mw per year thereafter.


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