Botala Energy Launches Share Purchase Plan at A$0.045 Per Share After Completing A$1.35 Million Placement

Aditi Sarkar

09 November 2026 03:33 PM AEDT

Botala Energy Launches Share Purchase Plan at A$0.045 Per Share After Completing A$1.35 Million Placement

Image Source: Krish Capital Pty Ltd

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Botala Energy Ltd (ASX:BTE) has confirmed the successful completion of its A$1.35 million placement and announced a Share Purchase Plan (SPP) targeting up to A$1.5 million, with eligible shareholders offered new shares at A$0.045 each — the same price as the placement.

Key Points

A$1.35 million placement completed with 22,777,778 new shares allotted on 2 November 2026 under Listing Rule 7.1 placement capacity.
7,222,222 shares allocated to Directors remain subject to shareholder approval at an upcoming General Meeting.
SPP targets up to A$1.5 million at A$0.045 per share, with applications capped at A$30,000 per eligible shareholder.
SPP record date was 6 November 2026, with the offer booklet to be dispatched to eligible shareholders on 13 November 2026.
Funds will support flow testing and production activities at the Pitse Pilot Project, priority exploration drilling, and general working capital.

Placement Completion and Share Allotment Details

Botala Energy confirmed the closure of its A$1.35 million placement, originally announced on 23 October 2026. A total of 22,777,778 new fully paid ordinary shares were issued to participating investors effective 2 November 2026, utilising the company's available placement capacity under ASX Listing Rule 7.1. A further 7,222,222 shares allocated to Directors as part of the placement remain subject to shareholder approval under Listing Rule 7.1 at an upcoming General Meeting. The placement was issued at A$0.045 per share.

Share Purchase Plan Terms and Eligibility

Botala Energy will conduct a Share Purchase Plan open to eligible shareholders who held ordinary shares in the company at 7:00pm AEDT on 6 November 2026, being the SPP record date, and who have a registered address in an eligible jurisdiction as outlined in the SPP Offer Booklet. New shares under the SPP will be issued at A$0.045 per share, without brokerage or transaction costs. Applications are capped at the statutory maximum of A$30,000 per eligible shareholder across all holdings. The company may raise more or less than the A$1.5 million target at its absolute discretion, subject to ASX Listing Rules.

SPP Timetable and Use of Funds

According to the filing, the SPP Offer Booklet is scheduled to be dispatched to eligible shareholders on 13 November 2026, with the SPP closing at 7:00pm AEDT on 27 November 2026. Results are expected to be announced on 4 December 2026, with new shares to commence trading on ASX on 7 December 2026. The company stated that proceeds from the SPP will be directed toward continued flow testing and production activities at the Pitse Pilot Project, priority exploration drilling, and general working capital. Botala noted the timetable is indicative only and subject to change.

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