Eden Energy (ASX: EDE) has been granted a trading halt by the ASX pending a capital raising announcement, with the company's shares placed in pre-open.
The halt will last until the earlier of the announcement being made, or the commencement of trade on Friday 16 September.
Eden Energy is currently in a very interesting position, and earlier in the week announced that the company will look to spin off the UK gas assets into an ASX listing.
The proposed new float will involve a capital raising of at least A$10 million with Eden Energy shareholders to be offered a priority entitlement via a prospectus.
The company's vast UK shale gas and coal bed methane portfolios are potentially company making as the Welsh shale gas resource, in which Eden holds a 50% interest, is of world class dimensions.
Independently reported Shale Gas Unrisked Prospective Mean Resources GIIP for part of the licence area stand at 49.8 trillion cubic feet of gas (TCF).
Originally published at: http://www.proactiveinvestors.com.au/companies/news/19603/eden-energy-in-pre-open-pending-capital-raising-announcement-19603.html
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