KALiNA Power Limited (ASX:KPO) Announces Pro-Rata Rights Issue
Rights Issue Details
KALiNA Power Limited (ASX:KPO) has announced a non-underwritten and non-renounceable pro-rata rights issue of approximately 130,475,894 new fully paid shares at $0.008 per share. Eligible shareholders will receive one new share for every twenty-one shares held. Additionally, for every two new shares issued, shareholders will receive one free attaching option to acquire a further share at $0.02, exercisable until 9 October 2026. The company aims to raise up to approximately $1.04 million before costs. The offer closes at 5.00pm on 3 April 2025.
Purpose and Use of Funds
The funds raised from the rights issue will be utilized for the company’s working capital requirements and to advance projects under KDP’s portfolio. This includes the development of natural gas-fired power projects integrated with carbon capture and sequestration in Alberta, as well as the advancement of KALiNA’s proprietary KALiNA Cycle® technology for global deployment.
Director Participation
The company’s directors have participated in the placement, committing $210,000 to the offer. This commitment underscores the board’s confidence in the company’s strategic direction and growth prospects.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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