Whilst the most recent announcement didn't give much away (specifically) as to where the money would be going the general explanation was as I expected.
The funds raised will go to finance "property development (specifically Henderson Stage 2 - the construction of new headquarters), capital expenditure relating to new product developments, expansion of overseas facilities and general corporate purposes."
When these come into effect I believe Matrix will emerge as the standout supplier of choice of buoyancy modules to the deep sea oil and gas sector. I also believe that in light of this the current SP will surge from its current level.
I will be participating fully in the placement to retail holders.
MCE Price at posting:
$8.84 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)