Below extract from AFR....baby formula?? Is that true?
“It is spending $10 million on the purchase, which includes $8.5 million cash, $0.5 million convertible note, and $1 million in Longtable Group shares to Maggie Beer at 20 cents per share and escrowed for 24 months. Ms Beer will also join Longtable's board and committed to a two-year brand ambassadorship. To raise the money Longtable will do a $2.18 million institutional placement and a rights issue on a 1 to 1.95 basis to existing shareholders at 20 cents per share. The money will also go towards expanding Saint David's Dairy and developing a baby formula product. ”
LON Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
