July 29 (Reuters) - Advanced Braking Technology Ltd (ABV) :
- Media release- $2.7mln share placement heavily over-subscribed (ABV)
- Has secured commitments to raise $2.7 million at the effective issue price of
A$0.007 per share
- Under placement, 272 million shares will be issued within company's 15%
capacity to issue without shareholder approval
- Says additional 114 million shares will be issued within the company's 10%
capacity
- Funds received from the placement will be used to fund repayment of $1.4mln
of convertible notes
