News Column

Forte Energy NL - Share Placement

September 2, 2014



ENP Newswire - 02 September 2014

Release date- 29082014 - Forte Energy NL (ASX/AIM: FTE) is pleased to announce that it has accepted investor commitments to issue capital up to approximately A$1.65m before costs as part of the placement approved by shareholders on 30 July 2014.

The placement comprises approximately 296 million shares each at an issue price of 0.56 cents (approximately 0.31 pence) and 148 million options (1 free option for every 2 shares issued) with an exercise price of 0.5 pence (approximately 0.89 cents) each and exercisable within 2 years of grant.

The Company has the capacity to issue a further 304 million shares and 152 million options under the resolution approved by shareholders on 30 July 2014 and is in discussions with other potential investors.

As part of the placing the Company also intends to allow all existing shareholders the opportunity to participate in a Share Purchase Plan, which was also approved by shareholders on 30 July 2014. Documentation for the Share Purchase Plan is being finalised and is expected to be forwarded to shareholders within the next two weeks.

Contact:

Mark Reilly

Managing Director

Forte Energy NL

Tel: +61 (0) 8 9322 4071


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Source: ENP Newswire


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