Eastern Star Gas Limited (ESG) has spun off Orion as one of its subsidiary, and are seeking to raise $20 million by the issue of 100 million shares at $0.20 per share with provision to accept oversubscriptions of up to 15 million shares to raise an additional $3 million.
For each share allotted under the offer, Orion will grant, for no additional consideration, one option exercisable at $0.30 per share on or before 30 September 2010.
