White Energy’s Share Offer May Reshape Control

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

White Energy Company Limited announces a renounceable pro rata entitlement offer to eligible shareholders, allowing them to purchase additional shares. The offer could lead to significant changes in company control and share dilution, especially if not all shareholders participate equally. Major shareholders Gaffwick Pty Ltd and Ilwella Pty Ltd, associated with director Mr. Brian Flannery, hold a combined 73.32% of the company, with potential changes in their voting power depending on the offer’s uptake.

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