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Lakes Blue Energy NL (ASX:LKO)

ALERT: Price-sensitive ASX Announcement for LKO
Current share price for LKO : $0.295 -0.055 (-15.71%)+
Announcement
Release
29 Jul 2026 2:41PM
Price at Release
$0.350
Full Release
download
Summary
Lakes Blue Energy NL has announced a capital raising initiative through an Entitlement Offer and Placement as outlined in their prospectus. The Entitlement Offer involves issuing new shares at $0.30 each, with a ratio of 1 new share for every 4.7 existing shares, potentially raising approximately $8.68 million. This offer is complemented by a Placement, and a total of 28,939,252 attaching options are available. The purpose is to raise funds for general working capital, with the total expenses estimated at $631,000. Shareholder approval is required for certain aspects of the offering, and the initiative may result in the dilution of existing shareholders who do not participate. The offer is limited to Australian and New Zealand shareholders. A new Non-Executive Director, Hugh Walter Robertson, has been appointed to the board.
Key Points
  • Lakes Blue Energy NL is conducting a capital raising via an Entitlement Offer and a Placement.
  • The Entitlement Offer is set at $0.30 per share with a ratio of 1 new share for every 4.7 existing shares.
  • A total of 15,622,528 new shares are being offered, with an additional 13,316,724 shares to be issued under the Placement.
  • 28,939,252 attaching options accompany the shares, with a potential capital raise totaling around $8.68 million.
  • The purpose of the Entitlement Offer is to raise approximately $4.69 million for general working capital.
  • The offer includes a Placement Option Offer, conditional on shareholder approval, allowing for attaching options at no additional consideration.
  • The offer might dilute existing shareholders' voting power, especially if they do not participate.
  • The Entitlement Offer will not be extended to shareholders outside Australia and New Zealand.
  • The total expenses of the capital raising are estimated to be $631,000.
  • Changes to the company's board include the appointment of Hugh Walter Robertson as a Non-Executive Director.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.