Capital Raise Update
MKTUPDTE
Mon, Dec 16 2024 09:08 am
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
Announcement PDF
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