OnnoBass schreef:
LONDON (Thomson Financial) - Proventec PLC said it is on target to meet all
of its full-year forecasts as sales since the half-year end have continued to
grow in line with its expectations.
In a statement, the company said it has cash reserves of 578,000 stg as of
date, but added that this is unlikely to be adequate to provide sufficient cash
to fund another major strategic acquisition such as that of Contico.
It also said it intends to convene an extraordinary general meeting to seek
shareholder approval to raise funds needed for further acquisitions as well as
working capital purposes.
At the EGM, the board plans to seek shareholders' approval to create an
additional 500 mln new shares over which the directors have flexibility to be
able to allot for cash on a non-pre emptive basis doubling authorised share
capital to 50 mln stg.
The EGM is scheduled for Jan 28, the company added.