GrainCorp Limited (GNC) said it has successfully sold all of the new shares that were not taken up in the retail component of its recent capital raising. The company said the clearing price for the retail bookbuild was $6.50 per share, representing a 15% premium to the original offer price of $5.65. The grain handler said the retail bookbuild was still a discount of approximately 4.2% to the closing price of GrainCorp shares on 4 November 2009. GrainCorp said about 58% of eligible retail shareholders took up the original entitlement. The bookbuild process which was undertaken on 5 November 2009.

Geodynamics Limited (GDY) said it has been awarded $90 million in funding by the Federal Government under the Renewable Energy Demonstration Program. The company said the funding had been awarded following a competitive process and forms part of an overall $235 million award to 4 renewable energy demonstration projects across a range of emerging renewable technologies. Geodynamics said the funding would be staged over the life of the project with the final grant payment to be received following the commissioning of a 25 MW geothermal power plant in the Cooper Basin, expected to occur in late 2013.