Capital Raise Update

16 December 2024


Metro Performance Glass – Capital Raise update

The Company and its banks have been unable to reach agreement on key final terms of documentation with Cowes Bay. Discussions with Cowes Bay are now at an end.

As outlined on 28 November 2024, directors were already pursuing alternatives which involve an equity capital raise in the new year. A supported rights offer remains the Company’s plan and directors are engaged with four potential investor groups to invest as part of the rights offer; these investor groups are not necessarily mutually exclusive. As part of this process, the Company has received conditional offers to underwrite $15 million of a capital raise and the Company will now work with all parties to finalise a formal rights offer.
ENDS

For further information please contact:

Simon Bennett – Executive Director: 021 036 8387

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Announcement PDF