Nexus

A$31m Share Placement and A$43m Rights Issue

September 2009

On 2 September 2009, Nexus announced a A$74 million capital raising, comprising of a A$31 million share placement of 96.8 million shares at A$0.32 per share and a fully underwritten 1 for 3.75 non-renounceable rights issue at a price of A$0.22 per share to raise A$43 million.

Net funds raised pursuant to the capital raising were to be used to:

  • strengthen the balance sheet and provide financial flexibility to the end of 2010;
  • fund ongoing development of the Longtorn gas project;
  • fund long lead items for the Crux liquids project; and
  • provide general working capital.

Azure was appointed as co-lead manager to the share placement and Sub-Underwriter to the rights issue.