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Panax Geothermal renames itself to Raya Group

Panax Geothermal's project locations in Indonesia (source: Panax' corporate video)
Alexander Richter 4 May 2013

Australian developer Panax Geothermal has announced its new name Raya Group and emphasizes a focus on Indonesia.

In release, Australian developer Panax Geothermal announces that its “shareholders approved a change of name to Raya Group (ASX: RYG), with trade to commence under the new name on the ASX from Monday 6th May 2013.

The company recently launched a Share Purchase Plan to raise up to $3 million, with a number of parties indicating an interest in underwriting some or all of the plan.

The offer is to all shareholders to purchase between $1,500 and $15,000 of new listed ordinary shares in Panax, at an issue price of $0.01 per share, with one free Attaching Option, exercisable at $0.015 and with a three year exercise period from the date of issue.”

Source: Proactive Investors