AFR�s capital raising plan flounders

Wednesday, June 04, 2014

African Energy Resources (AFR) bid to raise $2.95 (P25) million from shareholders through a non-renounceable rights issue suffered a setback this week with 90 percent of the shares of offer not subscribed for.

Announcing the results of the rights offer in a statement to the Botswana Stock Exchange (BSE), African Energy yesterday said that only $300,000 was raised as 3.5 million shares were bought by existing shareholders from about 34.7 million shares on offer.

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AFR�s capital raising plan flounders

African Energy Resources (AFR) bid to raise $2.95 (P25) million from shareholders through a non-renounceable rights issue suffered a setback this week with 90 percent of the shares of offer not subscribed for.

42 out of 45 bodies of Limpopo bus crash victims identified

Selefu

Selefu

Civil Society threatens court action over constitution amendment

Fans urged to fill up stadium

Coaches take jabs ahead of derby

A city divided!

Civil Society threatens Masisi with legal action

Routine child vaccination imperative