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hi
courtesy patersons

Coote Industrial Ltd (ASX Code: CXG) is an established provider of technical sales and services to the resources, rail, transport, defence, maritime and power generation industries.



▪ CXG intends to raise $30m via a Placement priced at $0.26, which represents a 25% discount to the last close. In conjunction with the Placement, CXG will offer shareholders the opportunity to participate in a SPP capped at $10m. The SPP will not be underwritten.



▪ Funds raised through the issue will be applied towards debt reduction and working capital. The Company will have a market capitalisation of $62m following the Placement.



▪ Patersons Securities Ltd and RBS Morgans Ltd have been appointed as Joint Lead Managers for the Placement

cheers