Australia's Mighty Kingdom Ltd rises on restructuring plans

Fortifai

04/08/2022 05:30

** Shares of Australian video game maker Mighty Kingdom Ltd
 MKL.AX  climb as much as 31.6% to A$0.05, highest since June 10
    ** Company says it is undertaking a refocus and restructure
of its business plan, management and board  urn:newsml:reuters.com:*:nASX1YhljY
    ** MKL targeting operational cash flow breakeven by Q3 FY
2023
    ** Company gets commitments for share placement to raise A$7
mln ($4.87 mln) at A$0.035/shr, a 7.9% discount to stock's last
close
    ** As of last close, shares down 76.3% this year

 ($1 = 1.4368 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))