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The latest update is out from Pilot Energy Limited ( (AU:PGY) ).
Pilot Energy Limited has issued 428,164,088 new shares to sophisticated, institutional and professional investors under a placement first announced in late January, relying on disclosure exemptions under the Corporations Act. The company has lodged a cleansing notice confirming it has met its financial reporting and continuous disclosure obligations and that there is no excluded information, enabling the new securities to be traded on-market without a prospectus.
The cleansing notice, authorised by the board, affirms that Pilot Energy complies with key corporate law provisions, thereby supporting market confidence in the placement shares. This move streamlines the capital-raising process for Pilot while assuring investors that regulatory and disclosure requirements have been satisfied in connection with the large equity issue.
The most recent analyst rating on (AU:PGY) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Pilot Energy Limited stock, see the AU:PGY Stock Forecast page.
More about Pilot Energy Limited
Pilot Energy Limited is an Australian-listed company in the energy sector, trading on the ASX under the ticker PGY. The company is engaged in exploration and development activities within the energy industry, targeting sophisticated, institutional and professional investors for its capital raisings in the local market.
Average Trading Volume: 150,686
Technical Sentiment Signal: Sell
Current Market Cap: A$10.79M
For an in-depth examination of PGY stock, go to TipRanks’ Overview page.