InvestSMART

Triangle Energy (Global) Limited (ASX:TEG)

ALERT: Price-sensitive ASX Announcement for TEG
Current share price for TEG : $0.001 -0.002 (-66.67%)+
Announcement
Release
24 Mar 2026 12:28PM
Price at Release
$0.003
Full Release
download
Summary
The short form prospectus by Triangle Energy (Global) Limited outlines the proposal for a capital reduction through the distribution of 19,700,100 Tetragon Shares to its shareholders as part of a planned spin-out of its Philippines Projects into Tetragon Energy Limited. This document, lodged with ASIC, details the terms and conditions under which the shares will be distributed, the effect of the capital reduction on Triangle's financial position, and the subsequent steps for Tetragon to seek an ASX listing. The prospectus also includes information on the pro forma financial positions of Triangle and Tetragon post-spin-out, risk factors, taxation implications, and related shareholder actions. The directors recommend approval of the spin-out and state that it is subject to shareholder approval at a general meeting.
Key Points
  • Capital reduction involves distributing 19,700,100 Tetragon Shares
  • Spin-out of Philippines Projects into Tetragon Energy Limited
  • Shareholders to receive shares on a pro rata basis
  • Tetragon to seek an ASX listing following spin-out
  • Outlines pro forma financial positions of Triangle and Tetragon
  • Risk factors and taxation implications discussed
  • Directors recommend approval of the spin-out
  • Shareholder approval required at a general meeting
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.