Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Panax Geothermal Changes Name To Raya Group

Panax Geothermal's (ASX: PAX) 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.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.