Polartechnics, the Australian manufacturer of diagnostic kits for cervical cancer and melanoma, announced yesterday that it will launch a Share Purchase Plan (SPP) in February 2009 to present shareholders of the company, entitling them to acquire additional parcels of ordinary fully paid shares in the company. Under the plan, each eligible shareholder, irrespective of their current size of shares held, will be to purchase up to A$5,00o worth of new Polartechnics ordinary shares. Issue price for shares offered under the scheme will be A$0.11 per share, representing a 19.94% discount to the average traded market price recorded between 16th to 20th February 2009.
“We have overcome the challenges from scaling up our manufacturing to full production capacity putting us in a strong position to meet our sales forecasts for TruScreen. Additionally we have signed major distribution agreements for our new self-sampling products,” said Polartechnics Chairman, Robert Hunter.
0 Responses to “Polartechnics looks to Shareholders to Raise Funds”