Generation Development Group Limited (AU:GDG) has released an update.
Generation Development Group Limited has announced a new securities issue, proposing to issue up to 47,915,245 ordinary shares for an accelerated offer and an additional 31,784,062 shares for a placement or other type of issue. The securities from the accelerated offer are expected to resume trading on an ex-entitlement basis on June 5, 2024, with the record date and offer closing for retail security holders also set for June 2024. This move by the company is aimed at capital generation, with the proposed issue dates for the new securities slated for June 2024.
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