88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has provided an update on its Small Holding Sale Facility.
The company said 1,419 shareholders have retained a total of 10.35 million shares.
A further 860 shareholders have sold, merged or topped up parcels totalling 8.78 million shares.
At the close of the process, 46.14 million shares remain in the facility for sale by broker Euroz Hartleys Limited. These shares will be sold at no less than the five-day weighted average closing price before the date of any offer.
Proceeds will be distributed pro rata among participants, and, all sale costs will be met by the company.
The facility excluded shareholders in the UK and those holding shares through CREST.