88 Energy Limited (the “Company”) announces that its shares have been placed in a trading halt on the Australian Securities Exchange (“ASX”) pending the release of an announcement in relation to a potential capital raising.
The trading halt will remain until the earlier of an announcement to the market regarding the above or the opening of trade on ASX on 24 January 2020 and the shares in the Company will continue to trade on AIM during this period.
It is currently intended that any such capital raising will utilise the Company’s existing authorities and will not be subject to shareholder approval. The Company confirms that no terms for any such capital raising have been agreed and there can be no guarantee that a capital raising will be completed.
