Titomic Ltd ( (AU:TTT) ) has issued an update.
Titomic Limited has announced a reduction in its share capital by AU$81,503,186 under Section 258F of the Corporations Act 2001. This technical adjustment aims to reduce accumulated losses in the company’s financial statements without affecting its net assets, financial results, or cash flow. The move is strategically designed to ensure Titomic Europe, its European subsidiary, qualifies for significant grant funding by meeting specific financial metrics. The adjustment will not affect the number of securities on issue or create any fractional entitlements.
More about Titomic Ltd
Titomic Limited is a global leader in industrial-scale metal additive manufacturing, specializing in Cold Spray Additive Manufacturing (Cold Spray AM). With operations across Australia, the U.S., and Europe, Titomic delivers cutting-edge solutions for Aerospace, Defense, Shipbuilding, Oil & Gas, Mining, and Automotive industries.
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $204.8M
For an in-depth examination of TTT stock, go to TipRanks’ Stock Analysis page.