Anagenics Limited (AU:AN1) has released an update.
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Anagenics Limited has embarked on a comprehensive restructuring plan, resulting in a substantial cost reduction of $2.5 million annually and a focus on profitability, royalty revenue, and new brand releases. As part of this strategy, the company will issue 35 million shares to FOS Capital, pending shareholder approval, marking a significant step in their ongoing collaboration. Early indicators from November show promising financial improvements, suggesting a positive turnaround for Anagenics’ business operations.
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