Energy Action Limited (AU:EAX) has released an update.
Energy Action Limited announces a strategic plan to strengthen its financial position by launching a non-renounceable entitlement offer to raise A$1.004 million and converting subordinated debt to equity. The offer is partially underwritten and aims to issue over 5 million new shares at A$0.20 each, with key directors signaling their commitment to fully participate. This initiative is part of the company’s efforts to negotiate an extension of its loan facility with the Commonwealth Bank of Australia.
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