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IOUpay (ASX: IOU) appoints Non-Executive Chairman, raises AU$700,000 via placement - Kalkine Media

June 27, 2023 11:33 AM AEST | By Ankit Sethi
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Highlights

  • David Halliday has been appointed as the Non-Executive Chairman of the company with immediate effect
  • Placement of 70 million ordinary shares is complete, and IOUpay has raised AU$700,000 before costs
  • Placement funds will be used towards working capital, particularly review and potential restructuring of operations

IOUpay Limited (ASX: IOU) -- which provides digital payment services to entities like banks, telcos and other corporates in Malaysia and Indonesia -- has announced the appointment of Mr. David Halliday as the Non-Executive Chairman with immediate effect. The fintech and digital commerce software service provider has also informed about the completion of a placement of 70 million ordinary shares to raise AU$700,000 (before costs).

For the placement, Clee Capital Pty Ltd was the Lead Manager. Separately, in a commercial decision to use a mix of debt and equity, IOUpay also issued a draw down notice a few days back for a further AU$550,000 on its existing loan facility.


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