FOS Capital Ltd (AU:FOS) has released an update.
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Anagenics Limited has substantially completed its restructuring efforts aimed at achieving profitability, including cost reductions and operational simplifications, resulting in expected annual savings exceeding $2.5 million. The company has started to see positive financial outcomes, with encouraging preliminary results for November showing a profit before tax. An ongoing partnership with FOS Capital, which facilitated the restructure, involves issuing 35 million shares to FOS, subject to shareholder approval.
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