Institutional shareholders provide immediate A$0.4m funding support with additional funding subject to shareholder approval
Cancellation of the proposed accelerated non-renounceable pro- rata Entitlement Offer
Funding support announcement
Further to PVL’s recent ASX announcements in relation to a proposed pro-rata non- renounceable Entitlement Offer, the Company hereby announces that discussions held with major institutional shareholders as a necessary part of that Offer have led to an immediate funding offer from two of these shareholders of $0.4 million in convertible notes priced at 20 cents per share, paying a coupon of 12 percent per annum and having an expiry date of 31 March 2019.
Cancellation of Entitlement Offer
PVL announces that it will no longer be proceeding with the funding as described in the Entitlement Offer and the ASX announcement dated 11 April 2018.
For further information please download PDF attached:
Download this document