restructure, page-13

Just found this....50c would be about 400m shares to raise $200m would make the thing almost debt free...mmmmm


PHOTON'S capital raising will be close to $200 million, which could almost double its market capitalisation of $191 million.
The stock was suspended on June 4 at $1.02 a share and the coming capital raising will be at a huge discount, with the rights issue price less than 50 cents a share.

UBS and Macquarie are handling the equity raising which has already won the backing of major shareholders Reg Grundy, James Packer and others.

The Photon restructuring is still a work in progress, with new boss Jeremy Philips wanting to ensure the company starts the new financial year in the best shape possible .

Philips is doing what all new bosses do and lowering the barriers but is doing so with an idea to establishing a better base by breaking down the internal barriers in the company so everyone works for the one cause.


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As to just when it all comes together and is unveiled to the market is not yet clear but the end of the month is looming as the deadline.