Lindsay raises $1.57 million through share purchase scheme to fund planned expansion
October 9, 2009
Lindsay Australia has raised $1.57 million through a share purchase scheme to fund a planned expansion of the Brisbane-based trucking group.
The company announced in September it would restructure its share registry to raise cash.
The scheme, brokered by RBS Morgans, has raised $1,568,900, the company has told the stock exchange.
“The proceeds from the SPP [share purchase plan] will be used primarily to increase working capital and fund expansion and fixed asset purchases,” a statement says.
The company doesn’t say what assets will be purchased with the revenue.