26 Mar 2015

Clayton Utz advises Empire Oil & Gas NL on its A$15.7 million equity raising

Clayton Utz has advised Empire Oil & Gas NL in connection with its A$15.7 million raising via a placement to sophisticated and institutional investors, and a fully underwritten pro-rata non-renounceable entitlement offer, announced to the market on 25 March 2015.

Perth Corporate Advisory/M&A partner Mark Paganin led the Clayton Utz team, which includes senior associates Liz Humphry and James Clyne, and lawyer Tom Parker.

The raising comprises a $5.5 million share placement to institutional and sophisticated investors at a price of $0.005 per share and a fully underwritten 1 for 4 non-renounceable entitlement offer at the same price as the placement, with 1 free attaching option for every 4 new shares subscribed for, to raise total proceeds of A$15.7 million.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.