Whilst the most recent announcement didn't give much away (specifically) as to where the money would be going the general explanation was as I expected.
The funds raised will go to finance "property development
(specifically Henderson Stage 2 - the construction of new headquarters), capital expenditure relating to new product developments, expansion of overseas facilities and general corporate purposes."
When these come into effect I believe Matrix will emerge as the standout supplier of choice of buoyancy modules to the deep sea oil and gas sector. I also believe that in light of this the current SP will surge from its current level.
I will be participating fully in the placement to retail holders.
Whilst the most recent announcement didn't give much away...
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Last
26.0¢ |
Change
-0.005(1.89%) |
Mkt cap ! $72.45M | |||
| Open | High | Low | Value | Volume |
| 26.5¢ | 26.5¢ | 26.0¢ | $78.45K | 298.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13797 | 26.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.5¢ | 9150 | 1 |
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| Last trade - 15.52pm 27/11/2024 (20 minute delay) ? |
| MCE (ASX) Chart |
