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
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strong support for plt rights issue
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