The issue price of each new PanPac share is A6.0 cents (a 10% discount) with allotment taking place on 28 May.
Three directors are underwriting QGC's maximum $6 million SPP at a 12% discount, which it says coincides with positive news from QGC's Berwyndale South Pilot near Chinchilla in Queensland, where gas flow rates have risen sharply in the last week.
Shareholders have until Thursday 12 June to purchase up to $5,000 worth of new shares at 15 cents per share. The SPP is capped at 40 million shares, thus raising a maximum of $6 million. This offer is open to shareholders who were on the QGC register at the close of business on Friday 16 May.
