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    VEN   AU0000020885

VINTAGE ENERGY LIMITED

(VEN)
  Report
Delayed Australian Stock Exchange  -  05/27 12:30:59 am EDT
0.0800 AUD   +3.90%
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Vintage Energy Ltd Share Purchase Plan Completed

01/18/2022 | 05:53pm EDT

Share Purchase Plan Completed

Melbourne, Australia (ABN Newswire) - Vintage Energy Ltd (ASX:VEN) announces its Share Purchase Plan ("SPP") closed on Friday 14 January 2022 with eligible applications for $3.44 million of new shares for the $2.0 million SPP.

Directors have welcomed the strong support shown by shareholders and elected to accept all eligible applications so holders may receive an allocation fully matching their commitment. The shares are to be issued at $0.085 per share, the same price paid by institutional and sophisticated investors in the placement completed in December 2021.

Accordingly, Vintage will issue approximately 40.5 million fully paid shares under the SPP. The shares allocated under the SPP will be issued on Friday 21 January 2022 and commence trading on Monday 24 January 2022.

Vintage Managing Director, Neil Gibbins, said "the shareholder response to the SPP is an outstanding vote of confidence in the company and an extensive and promising program of well completions, tie-ins, seismic acquisition and drilling."

"The team is focussed on meeting the milestones enabled by the equity raising and our non-equity initiatives, such as the recently announced $10 million debt facility and Heads of Agreement with AGL."

The funds raised by the placement and SPP will predominantly be used to fund exploration and appraisal activities, such as:

- Odin-1 completion and tie-in to the Moomba gas gathering network;
- Exploration activities including 3D seismic and the drilling in ATP 2021;
- Drilling of the Cervantes oil prospect in the Perth Basin, WA; and
- Marketing and engineering studies related to the Nangwarry field in the Otway Basin, SA



About Vintage Energy Ltd:

Vintage Energy Ltd (ASX:VEN) has been established to acquire, explore and develop energy assets principally within, but not limited to, Australia, to take advantage of a generally favourable energy pricing outlook.



Source:
Vintage Energy Ltd



Contact:

Neil Gibbins
Managing Director
+61 8 7477 7680
info@vintageenergy.com.au
 

© ABN Newswire 2022
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Financials
Sales 2021 - - -
Net income 2021 -2,37 M -1,69 M -1,69 M
Net cash 2021 6,99 M 5,00 M 5,00 M
P/E ratio 2021 -16,3x
Yield 2021 -
Capitalization 59,7 M 42,7 M 42,7 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 89,7%
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 0,08 AUD
Average target price 0,11 AUD
Spread / Average Target 37,5%
Managers and Directors
Neil M. Gibbins Managing Director & Director
Simon Gray Chief Financial Officer & Secretary
Reginald George Nelson Chairman
Nick Smart Non-Executive Director
Ian Howarth Non-Executive Director
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