Manhattan Corporation Limited (AU:MHC) has released an update.
Manhattan Corporation Limited has announced a non-renounceable entitlement offer to raise approximately $1.5 million by issuing new shares to eligible shareholders, with an offer price of $0.001 each. In addition to the entitlement offer, the company plans to consolidate its securities on a 20:1 basis, pending shareholder approval. The offer is aimed at maintaining shareholder equity percentages, with potential dilution for those not participating.
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