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ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Capital/Financing Update 2008
Jun 3, 2008
64819_rns_2008-06-03_4186d7b8-eda8-4ff9-801f-e46837cfcae5.pdf
Capital/Financing Update
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Environmental Clean Technologies Limited
Shareholder Announcement
4 June 2008: Environmental Clean Technologies Limited (ASX:ESI) advises that it has given Fortrend Securities Pty Ltd a drawdown notice under the Standby Subscription Agreement dated 31[st] August 2007.
The drawdown relates to the issue of 6,156,580 shares that are priced at .0924c being 90% of the VWAP market price from 26-30 May 2008. In addition 1,539,145 options will issue at .113c being an exercise price of 110% of the same VWAP. The options will expire on 2 June 2011.
ECT is in active discussions with potential strategic investors and has taken this smaller drawdown to meet operational expenses that support the Arup preliminary design and feasibility study, including the purchase of a new extruder that will enable optimisation testing at the existing pilot plant.
All enquiries should be directed to the Chief Executive, Kos Galtos on 0400339404.
Level 13, 222 Kingsway � South Melbourne � Victoria 3205 � Australia � +61(0)3 96840888 � www.ectltd.com.au