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VDM Group Ltd announces placement and pro-rata non renounceable rights issue


Tuesday, 10 Dec 2013 04:28pm EST 

VDM Group Ltd:Says that it has lodged a prospectus in relation to a one for one pro-rata non-renounceable entitlement offer of 1,792,975,335 new fully paid shares at an issue price of A$0.01 per share to raise up to A$17.9 mln.Says that it has also made a placement of 75,000,000 fully paid ordinary shares in the company to a private investor, pursuant to the company's placement capacity under ASX Listing Rule 7.1 (placement).Says the placement has been made at a price of A$0.01 per Share, and raised A$750,000 for the company.Says offer is being made to all shareholders of the company named on the register on Dec. 19.Says the funds raised from the offer and the placement will be used to strengthen the company's balance sheet (including repayment of the A$4 mln secured loan facility provided by H&H Holdings Australia Pty Ltd (H&H or the underwriter). 

Company Quote

0.0090
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19 Dec 2014