Advance, which currently has265.8 million shares listed on the Australian Securities Exchange, will offer the owners of Celiastad Pty Ltd 500 million shares for a 100% stake in the company.
The shares, worth about A$2 million (US$1.98 million) based on the company’s 0.04 cents closing price on Monday, will be distributed among Celiastad shareholders pro-rata.
Celiastad has the rights to buy Epic Energy Ukraine, which in turn has executed a joint activity agreement (JAA) with licence-holder ZakhidUkrGeologiya, a subsidiary of the Ukrainian National Joint Stock Company.
The
