With regard to the planned US$10 million raising for the Companys TeleMedCare interests through Crucible Capital as announced on 25 October 2010, this is attracting a high level of interest in New York and progressing as expected and is currently in the due diligence process. The Company advises that this funding is non diluting to the Company itself as it will be positioned to hold an interest in the TeleMedCare business directly. The Company will advise the market of any material development on the further progress of this financing as it materializes
If I read this correctly STI will give up a certain amount of its holding in Telemedcare
DYOR
STI Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held