Electro Optic Systems hit back at capital raise rumours

Company News

by Rachael Jones

Electro Optic Systems (ASX:EOS) reports that speculation in the Australian Financial Review regarding a capital raise in the near term is unfounded and incorrect.

The company says it has had no discussion whatever with any party, including any party named in media speculation, on the subject of capital raising.

EOS has previously forecast growth exceeding 45 per cent for the next few years, and the company has sufficient cash for this business.

The company may in the future seek additional capital as major new growth opportunities are achieved and announced.

EOS Defence Systems specialises in technology for weapon systems optimisation and integration and space systems.

Shares in Electro Optic Systems (ASX:EOS) are trading 2.8 per cent higher at $7.00.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.