Friday 12th December 2008 |
Text too small? |
The company's second-largest shareholder, James Urquhart, agreed to immediately advance $1 million of the total sought by way of a loan, which is to convert to shares. Urquhart currently owns 19.8% of the company's stock.
Under the rights issue, shareholders would get two shares for every share held at 15 cents apiece. The issue is subject to a vote by shareholders in January.
In September, the company reported a first-half loss of $569,091 as revenue fell 26% to $5.4 million.
The company incurred one-time costs to reduce the number of unprofitable stores. The stock last traded unchanged at 10 cents on September 26 on the NZAX market.
No comments yet
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Devon Funds Morning Note - 17 April 2024
Consultation opens on a digital currency for New Zealand
TWL - TradeWindow's $2.2 million capital raise now unconditional
April 17th Morning Report
NZ Energy sector remains top 10 amid global disruption
SCT - 2024 Half Year Announcement
Fletcher Building Executive Team announcement
Meridian Energy monthly operating report for March 2024