Nomad?s Managing Director, Mr Michael Bourke, said:?The net...

Nomad?s Managing Director, Mr Michael Bourke, said:
?The net proceeds from the placement and the entitlement offer will generally be utilised for working
capital purposes and to facilitate the Company?s participation in a range of identified core business
opportunities. Part of the proceeds may be used for debt reduction should directors assess this is
appropriate, but this is not currently required or planned.?


He added:
?Whilst not directly related, the equity raisings follow the recently announced formal renewal of Nomad?s bank facilities with Westpac. As a result of these accomplishments, the Company has significantly enhanced its financial structure which will enable Nomad to actively maintain its share of a growing market for its products and services, by supplying high-quality and innovative products to meet customer requirements in a safe, timely and profitable manner?.

If memory serves me right, this is the first time they raise money since IPO and i guaranteed this won't be the last. Like i've mentioned b4, if they can generate good profit the last 12 months (when the mining construction is booming), i'm not having big expectation for NOD the next few quarters. As said by the M.D, they "may" plan to use the fund for partial debt reduction but its has to deem appropriate by the board. In other words, the money will be use for their chrissy pay cheques as well as maintaining a business that may not ever returning profit to shareholders. Aagain, with such fantastic product they have advertise in youtube, one would wonder whther they are good in "talking"(promising big project big pie) but not much in action (profit).

Good Luck shareholders and hope their institutional investor steps in to support the SP soon!