STTCOMP TPP, FA Long
Perth based engineering services group
Market Cap undiluted $37.3m @ 18.5c, Cash $13.3m at July 2016.
Currently in halt pending an announcement on a placement to a sophisticated investor.
Catalyst: Today's AFR Street Talk article related that a $9.5m placement has been made to Guido Belgiorno-Nettis (ex Transfield Services) for 15% of the company. Guido will take on a non-executive director role with TPP. If the figures and my maths are accurate then this suggests a placement price of ~26.6c representing a 44% premium on current share price.
STTCOMP TPP, FA Long Perth based engineering services group...
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