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SHARE PURCHASE PLAN RESULTS
Adelaide Energy Ltd (ADE) today announced that funds from its recent Share Purchase Plan (SPP), which closed on Tuesday 3 May 2011, have now all cleared and a total of $1.59M was raised.
A total of 11,381,649 (new fully paid ordinary shares in the capital of ADE) will now be issued to 185 shareholders who took up the offer (approximately 10% of the total number of shareholders). The allotment will be made on Tuesday 17 May 2011, with quotation on the ASX following on Thursday 19 May 2011.
Once issued, the total number of ordinary shares in ADE will now be 390,870,198.
No scale back was required as the maximum number of New Shares was not reached.