Xtek Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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Xtek Ltd Announces Non Renounceable Rights Issue
Xtek Ltd announced that it intends to make a non-renounceable rights issue (Rights Issue) to eligible shareholders on the basis of one New Share for every seven Shares held at an issue price of $0.027 per ordinary share (Offer). This offer is open to eligible Shareholders, as recorded on the share register as at October 3, 2013 (Record Date). The maximum number of New Shares which may be issued under the Rights Issue is 25,158,934 to raise up to approximately $679,291.21. The Company is undertaking the Rights Issue to provide general working capital. In addition to being able to apply for New Shares in the manner described above, subscribing Shareholders will also have the opportunity to apply for New Shares that are not fully subscribed under the Rights Issue (Shortfall Shares). All Shortfall Shares issued will be at the same price and on the same terms as the New Shares. The Offer will be partially underwritten to the value of $500,000, by one of our major shareholders, UDB Pty Ltd (a Company controlled by XTEK's Chairman). The continued support from UDB Pty Ltd is greatly appreciated and provides a lead for all other shareholders.
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