Forte Energy NL

August 28, 2014 02:00 ET

Share Placement

                                                                                           Forte Energy NL
                                                                                       ASX and AIM Release
                                                                                            28 August 2014
                                              SHARE PLACEMENT

Forte  Energy  NL  ("Forte" or "the Company") (ASX/AIM: FTE) is pleased to announce that  it  has  accepted
investor  commitments to issue capital up to approximately A$1.65m before costs as part  of  the  placement
approved by shareholders on 30 July 2014.

The  placement  comprises  approximately  296  million  shares  each  at  an  issue  price  of  0.56  cents
(approximately  0.31  pence) and 148 million options (1 free option for every  2  shares  issued)  with  an
exercise price of 0.5 pence (approximately 0.89 cents) each and exercisable within 2 years of grant.   When
the  placement settles the Company will lodge an Appendix 3B and make an announcement to AIM  with  further

The  Company  has  the  capacity to issue a further 304 million shares and 152 million  options  under  the
resolution approved by shareholders on 30 July 2014 and is in discussions with other potential investors.

As  part  of  the  placing the Company also intends to allow all existing shareholders the  opportunity  to
participate  in  a  Share  Purchase  Plan,  which was also  approved  by  shareholders  on  30  July  2014.
Documentation  for  the  Share  Purchase  Plan is being finalised  and  is  expected  to  be  forwarded  to
shareholders within the next two weeks.

For further information contact:

Mark Reilly, Managing Director
Forte Energy NL                                   Tel: +61 (0) 8 9322 4071

Geoff Nash/Ben Thompson                           Tel: +44 (0) 207 220 0500
Elizabeth Johnson (broking)

Oliver Morse / Trinity McIntyre
RFC Ambrian Ltd                                   Tel: +61 (0) 8 9480 2500
(AIM Nominated Adviser to the Company)

Forte Energy NL

Suite 3, Level 3
1292 Hay Street
West Perth WA 6005
Ph: +61 (0)8 9322 4071
Fax: +61 (0)8 9322 4073

Contact Information

  • Forte Energy NL