White Energy Proposes Shareholder Entitlement Offer

White Energy Company Limited (AU:WEC) has released an update.

White Energy Company Limited has announced a renounceable pro rata entitlement offer to its shareholders, which could potentially alter the company’s control depending on shareholder participation. The offer allows eligible shareholders to acquire additional shares, which may dilute the interests of non-participating shareholders or those not eligible. The company’s major shareholders, Gaffwick Pty Ltd and Ilwella Pty Ltd, currently hold a combined 73.32% of the share capital, with outcomes dependent on varying levels of shareholder uptake.

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