Adcorp Australia Limited (ASX: AAU) is going forward with the business restructuring and capital raising program as per the official announcement. The company is aiming to raise $3 Mn through fully underwritten 3 for 2 renounceable pro rate entitlement offer. The company would issue 273,044,709 new fully paid ordinary Adcorp shares at a price of $0.011 per share. The restructuring is aimed towards rebranding the business and create a strategic marketing solution entity.
Further, the proceeds from the Capital raising would ensure companys working capital requirements, restructure process. According to Adcorp, the funds would be used towards transforming the entity into a profitable marketing solution. Entitlement i…
Read the full article at: https://kalkinemedia.com/2018/09/14/adcorp-announces-new-right-issue-and-restructuring-of-the-business/