Galilee Energy Limited (AU:GLL) has released an update.
Galilee Energy Limited has successfully issued over 2.4 million new fully paid ordinary shares, as a result of employee performance rights being exercised. The shares were issued in compliance with the relevant ASX Listing Rules and Corporations Act requirements, with no need for a disclosure document or prospectus. This move aligns with the company’s strategy to become a significant supplier of sustainable energy to Australia’s east coast, leveraging its Glenaras Gas Project.
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