Otto Energy Updates Capital Return Timetable

Otto Energy Limited ( (AU:OEL) ) has shared an update.

Otto Energy Limited has announced an updated timetable for its previously approved return of capital, amounting to up to A$40 million or A$0.008 per share, which was sanctioned at the November 2023 Annual General Meeting. The company is awaiting a final class ruling from the Australian Taxation Office, expected within 28 days, and has provided a new indicative timetable for the capital return process. This move is significant for shareholders as it reflects Otto Energy’s commitment to returning value and managing shareholder expectations amidst regulatory processes.

More about Otto Energy Limited

Otto Energy Limited is an energy company listed on the Australian Securities Exchange (ASX: OEL). The company is involved in the exploration and production of oil and gas, with operations based in Australia and the United States. Otto Energy focuses on leveraging its expertise to develop energy resources and deliver value to its shareholders.

YTD Price Performance: -9.09%

Average Trading Volume: 1,482,180

Technical Sentiment Signal: Sell

Current Market Cap: A$47.95M

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