15th Jan 2014 10:31
LONDON (Alliance News) - Altona Energy PLC Wednesday said Wintask Group Ltd has completed its due diligence requirements and is transferring the second tranche of funds regarding an equity issuance in October.
The Australian coal-focused energy company said it has so far received GBP1.8 million of the GBP2.4 million outstanding under the terms of the placing agreement.
In October, the company announced the placement of 230 million shares at a price of 1.4 pence to provide additional working capital for the company.
The news comes as Altona continues to try to agree a way to progress its Australian coal asset with Chinese partners.
Altona Energy shares were up 50.3% to 1.39 pence, putting it top of the AIM movers Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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