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BRIEF-Advanced Braking Technology has secured commitments to raise $2.7 mln

Published 29/07/2016, 09:57 am
© Reuters.  BRIEF-Advanced Braking Technology has secured commitments to raise $2.7 mln
ABV
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July 29 (Reuters) - Advanced Braking Technology Ltd ABV.AX :

* Media release- $2.7mln share placement heavily over-subscribed ABV.AX

* Has secured commitments to raise $2.7 million at the effective issue price of

A$0.007 per share

* Under placement, 272 million shares will be issued within company's 15%

capacity to issue without shareholder approval

* Says additional 114 million shares will be issued within the company's 10%

capacity

* Funds received from the placement will be used to fund repayment of $1.4mln

of convertible notes

* Source text for Eikon

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