Underwriting Details
BPH Energy Ltd (formerly BPH Corporate Ltd - ASX:BPH) is pleased to advise that it has successfully completed its post consolidation capital raising receiving subscriptions in excess of $11.5M.
A total of 50,951,205 ordinary fully paid shares and 10,190,241 free attaching options were allotted and issued into the issuer sponsored sub register on 14 December 2010.
There were no shares issued to the Underwriter Grandbridge Securities. However, a total of 11,061,947 shares were issued to MEC Resources (MEC) in connection with its sub-underwriting commitment.
Grandbridge Securities has been paid of $466,290 for the services provided during the raising. MEC will receive a sub-underwriting fee equivalent to 3% of the funds raised by MEC. Payment of MEC's sub-underwriting fee is the responsibility of Grandbridge Securities.
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