Hyro Ltd. announced that it expects to receive AUD 3 million in funding from Partners for Growth.
Summary
Hyro Ltd. announced that it expects to receive AUD 3 million in funding from Partners for Growth.Hyro Ltd. (ASX:HYO) announced a private placement of convertible bond facility with Partners for Growth, L.P. for gross proceeds of AUD 3,000,000 on March 14, 2012. The company intends to hold a general meeting as soon as possible and in any case within 60 days, to seek shareholder approval for the transaction. After approval, there will be a full drawdown of the notes to repay the bond facility in its entirety. The conversion of the notes will result in the issue of ordinary fully paid shares of the company. On June 15, 2012, the company has received approval in its annual general meeting for the deal.
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