Lindsay raises $1.5m to fund fleet expansion


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.

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