Metro Performance Glass gets a lifeline

(Image: NZME)

Thu, 12 Sep 2024

New Zealand Exchange-listed Metro Performance Glass has reached a conditional deal with Cowes Bay Group, in which the Australian company will take a 13% stake and become its main lender.Melbourne-based investment firm Cowes Bay Group (CBG) will subscribe for 27.8 million new ordinary shares in Metro at 7 cents per share, raising approximately $1.9 million.The shares last traded down 2.7% at 7.3 cents.On completion, CBG will hold a 13% shareholding in Metro.RefinancingCBG is entering an agreement with Metro’s existing banking syndicat...

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