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Junior Member
UBS on board
"Institutional placement of 31 million ordinary shares... At the agreed price of 41.5 cents per share, this raises just over $12.8m in new capital. After the transaction, UBS will own 9.2% of the shares on issue"
https://www.directbroking.co.nz/Dire...spx?id=1839310
WDT's wish list...
"The new funds will be used to;
- Strengthen sales, marketing and in-market support within the sales organisation, primarily overseas;
- Improve the Company's ability to deliver products in volume rapidly,
including the establishment of a stator manufacturing facility in Singapore
and the implementation of systems and processes appropriate for high volume supply direct to leading appliance manufacturers in North America, Asia and Europe ("Tier 1" supply systems);
- Reduce the time taken to move new standard and special-purpose Total Integration designs from prototype to full production status
- Bring forward the next generation of research and development to
extend Wellington's innovation lead and to access new market areas. "
Not sure $13m will cover it, how much does it cost to build a small factory in Singapore? I like the ambition but expect the market to focus on the fact that 'break even' has now been pushed out another year.
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