Brief: Metro Performance Glass Initiates Process To Investigate Potential Sale Of Australian Glass Group

Metro Performance Glass

06/05/2024 02:02

May 6 (Reuters) - Metro Performance Glass Ltd  MPG.NZ :
    * INITIATED PROCESS TO INVESTIGATE POTENTIAL SALE OF
AUSTRALIAN
GLASS GROUP TO REDUCE ITS BANK DEBT
    * INTENTION IS TO NOW RETAIN ITS INVESTMENT IN AGG AND
PROGRESS A
CAPITAL RAISE TO FURTHER REDUCE ITS DEBT LEVEL
    * REVISED OFFER FOR POTENTIAL SALE OF AUSTRALIAN GLASS GROUP
HAS
BEEN RECEIVED
    * WILL CONTINUE TO ADVANCE DETAILS OF ITS CAPITAL RAISE WITH
ITS
ADVISERS
    * AGG WELL POSITIONED TO BENEFIT FROM INVESTMENTS IN NEW
EQUIPMENT
MADE LAST YEAR
    * EXPECTS TO FINALISE CAPITAL RAISE DETAILS ON OR SHORTLY
AFTER FY
RESULTS ANNOUNCEMENT IN LATE MAY
    * CURRENT INTENTION IS TO RAISE AT LEAST NZ$15M OF CAPITAL
BY WAY
OF AN ENTITLEMENT OFFER

Further company coverage:  MPG.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))