Flat Glass Industries Ltd announced the terms of a non-renounceable rights issue on 4 March 2009 on the basis of one new share for every three shares held at 5pm (Sydney time) on 13 March 2009.
The s…
Flat Glass Industries Ltd announced the terms of a non-renounceable rights issue on 4 March 2009 on the basis of one new share for every three shares held at 5pm (Sydney time) on 13 March 2009. The shares will be offered at AUD 0.35 each. The maximum number of shares which may be issued under the rights issue is estimated at 9.65 million shares (assuming none of the existing options are exercised), raising AUD 3.38 million (before expenses). The issue is not underwritten. The company intends to apply funds raised from the rights issue towards reducing bank debt.