Panorama Synergy Secures A$1.28m to date in additional funds from Share Purchase Plan, closing February 15th, 2011.
Australian technology company, Panorama Synergy Ltd (ASX:PSY) is pleased to announce that the Company has secured A$1.28 million of funding through its Share Purchase Plan, that was announced on 24th December, 2010 and closes on Tuesday, 15th February, 2011. The Plan offers eligible shareholders the ability to subscribe for between $750 and $15,000 worth of fully paid ordinary shares in the Company ("Shares") through the Plan. To be eligible, you were required to be registered as a holder of Shares, with a registered address in Australia as at 5.00pm (WST) on 22 December 2010 ("Eligible Shareholders").
Panorama Synergy's Managing Director, Terry Walsh, was extremely pleased with the fundraising.
"This investment is very exciting for us on three fronts,” he said.
"Firstly, it shows that the excitement and energy that we are feeling about the opportunities we have before us, are being felt by many of our shareholders. Combined with the Convertible Notes issue last November, we have been entrusted over the last two months with around A$2.5 million of investment to pursue the Company's plans on behalf of our shareholders.
"Secondly, it validates our decision to extend the SPP to February 15th. Any additional information we are able to provide to the market over the coming fifteen business days can be factored in by other shareholders who have yet to participate in the SPP.
"Finally, the fact that these shareholders invested, as did the Convertible Note holders in November, ahead of the closing date, tells me they are value investors who support the Company and its long term vision.
"The Board and I would like to thank our shareholders who have always distinguished themselves by their patience and support. That trust is not taken lightly and we look forward to rewarding it as we move forward.”
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