It was reported on the 22nd November 2018, "PMP Limited (‘PMP’ or the ’Company’) through its subsidiary PMP Finance Pty Ltd (‘PMPFinance’) is today pleased to announce the settlement of its $40m raising by issuance of asecured, subordinated and amortising corporate bond (the ‘New Notes’).The proceeds from the New Notes were concurrently applied towards the redemption of PMP’sFinance’s existing $40 million 6.43% Notes due 17 September 2019".
About $40 million of current liabilities and with a market capitalisation of $51 million, Ovato is a very unhealthy company.
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