STRONG SUPPORT FOR POLARTECHNICS LIMITED (“PLT”) RIGHTS ISSUE Polartechnics Limited (“the Company”) is pleased to advise that its capital raising programme by way of a Rights Issue as announced to the market on 27 September 2007 to raise of total of $9.648 million has been a complete success. Shareholders demonstrated their support for PLT by subscribing approximately $5.1 million towards the Rights Issue. In addition, the Company has also received irrevocable acceptances from eligible investors to fully subscribe to approximately $4.55 million being the shortfall of the Rights Issue. Final placement of the shortfall is expected to occur by 30 November 2007. The Rights Issue details can be summarised as follows: Number of Shares Amount Total Offered 24,121,524 $9,648,610 Taken Up 12,742,096 $5,096,838 Shortfall 11,379,428 $4,551,772
Sounds good! Other's thoughts.... especially TTH
PLT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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