Chris Williams, president and CEO of Proven Management Limited (PML), said Wednesday that by the end of April Proven Investments Limited will offer current shareholders additional equity in the company under a rights issue targeted to raise US$5 million.
PML is the management company for Proven Investments.
Each shareholder will be entitled to one ordinary share for every four ordinary shares held.
The rights issue is priced at US$0.14 cents per share, reflecting a five cent or 26 per cent discount on the closing price of US$0.19 on Wednesday.
Published in The Gleaner
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