XReality Group Ltd ( (AU:XRG) ) has issued an announcement.
xReality Group Limited has announced an Extraordinary General Meeting to seek shareholder approval for converting a $4.628 million debt to equity with Birkdale Holdings, a major shareholder associated with former director Steve Baxter. The conversion is priced at a 39% premium to the previous day’s closing share price, reflecting confidence in the company’s future and strengthening its balance sheet. Despite an Independent Expert’s Report deeming the transaction ‘not fair’ but ‘reasonable,’ the board recommends shareholders vote in favor of the resolution.
More about XReality Group Ltd
xReality Group Limited is a leader in enterprise software development, focusing on mission-critical simulations for military and law enforcement. The company specializes in both physical and digital simulations, providing a unique, integrated Mission Planning & Rehearsal System through its Operator XR product, which is portable, secure, and highly immersive.
YTD Price Performance: 16.67%
Average Trading Volume: 490,351
Technical Sentiment Signal: Sell
Current Market Cap: A$19.98M
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