By Sheri Kasprzak
New York, June 20 - VDM Group Ltd. will settle a A$12 million private placement.
A group of sophisticated and professional investors have agreed to buy 8 million shares at A$1.50 each.
Patersons Securities is the placement agent.
The offering is scheduled to close June 23.
Proceeds will be used to pay for the acquisition of a 75% interest in Cape Crushing and Earthmoving Contractors Pty. Ltd. The rest will be used for working capital.
Based in Perth, Western Australia, VDM is an engineering and construction services company.
| Issuer: | VDM Group Ltd.
|
| Issue: | Stock
|
| Amount: | A$12 million
|
| Shares: | 8 million
|
| Price: | A$1.50
|
| Warrants: | No
|
| Placement agent: | Patersons Securities
|
| Announcement date: | June 20
|
| Settlement date: | June 23
|
| Stock symbol: | Australia: VMG
|
| Stock price: | A$1.90 at close June 20
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
