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Kalkine Media ASX Share Market News & Research
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Invictus Energy (ASX: IVZ) extends closing date of AU$15.2M entitlement offer - Kalkine Media

February 14, 2024 03:22 PM AEDT | By Manisha
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Invictus Energy (ASX: IVZ) extends closing date of AU$15.2M entitlement offer

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Highlights

  • Invictus Energy has extended the closure of the entitlement offer to 6 March 2024.
  • IVZ had launched the entitlement rights offer on 02 February 2024 to raise ~AU$15.2 million.
  • The funds would aid developments across the company’s acreage in the Cabora Bassa basin.

Invictus Energy Limited (ASX: IVZ) has extended the closure of the entitlement offer to 6 March 2024. The company had launched the offer on 02 February 2024, with the record date of 30 January 2024, to raise ~AU$15.2 million. Earlier, the company had announced 19 February 2024 as the closing date of the offer.

The offer is open for all eligible shareholders who have registered address in the United Kingdom, New Zealand, Singapore, Hong Kong, and Australia.

The proceeds from the offer would be directed towards progressing the operations at the Cabora Bassa basin.

Revised Indicative Timetable (Image source: Company update) 

Reason behind the extension

The ASX-listed firm has decided to extend the closure date of the offer as the entitlement offer website attached to IVZ’s share register would remain closed temporarily due to maintenance work during the offer period.

Also, there has been delays in distribution of offer letters through the postal service. IVZ wishes to give enough time to all eligible shareholders to review and consider the entitlement offer.

IVZ shares jumped over 3% to trade at AU$0.100 apiece at the time of writing on 14 February 2024.

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