Tempo Australia Ltd (AU:H2G) has released an update.
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GreenHy2 Limited has announced an entitlement offer of new shares for eligible shareholders, priced at $0.006 each, to be issued without further disclosure under Australian law. This capital raising follows the company’s successful grant application for $1.5 million from the Australian Government, matched by Telstra, for a renewable energy project. The offer is partially underwritten, and while it may dilute non-participating shareholders’ stakes, it’s not expected to significantly alter company control.
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