Volt Power Announces $0.75M Placement and ECM Shareholding Sell down

  • Nov 18, 2019 AEDT
  • Team Kalkine

Volt Power Group Limited (ASX: VPR) notified that after the appointment of administrators to its largest shareholder, ECM, commitments have been received from VPR’s existing shareholders and sophisticated investors (including the Board) to acquire ECM’s 2,000,000,000 Volt Shares for a total value of $450k:

  • The Board has also secured sophisticated investor commitments for a $0.75 million capital raising for working capital purposes, in anticipation of the fleet expansion potential of its EcoQuip Mobile Solar Light & Communications Tower and Wescone crushing equipment businesses.
  • VPR will issue 750,000,000 new Volt Shares under its existing 15% placement capacity at an issue price of $0.001/share to complete the capital raising.
  • The ECM Sell Down and capital raising are expected to be completed by 25 November 2019.

 

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