M&A Partners acted as financial advisers to Pental Ltd (ASX:PTL) in relation to the successful exercise of options with $5.7M being raised by the company.
Thursday, 19th December 2013
ASX ANNOUNCEMENT
Results of Piggy Back Option Issue
Pental Ltd (ASX: PTL) is pleased to announce that as at the extended Exercise Date by which Loyalty Option holders had to exercise their options to qualify for Piggy Back Options, 287,838,746 Loyalty Options have been exercised raising $5.757m. As a result 287,838,746 Piggy Back Options have been allotted and will be issued today.
Pental thanks all Loyalty Option holders who have participated in the Piggy Back Option Issue for this excellent result. The capital raised will now be used progressively for the purposes set out in the prospectus issued in respect of the Piggy Back Options. In the interim the proceeds will offset gross debt to leave the current net debt at approximately $5.5m.