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Today RNS: Proposed Capital Raising (88 Energy Limited (88E)) Further to the Company's announcement earlier today regarding the trading halt and proposed capital raising, the Company confirms that it is currently seeking to obtain subscriptions for new ordinary shares at a price of 3.5 cents per share (£0.019 per share), to raise between AUS$10 million (c.£5.43 million) and AUS$15 million (c.£8.14 million). It is currently intended that any such capital raising will utilise the Company's existing authorities and will not be subject to shareholder approval. The Company confirms that the terms outlined above are indicative only and there can be no guarantee that a capital raising will be completed on these terms or at all.
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