Strix Group (GB:KETL) has released an update.
Strix Group PLC has announced a proposed equity placing to issue over 10 million new shares, aiming to raise £8.7 million to expedite debt reduction and support growth strategies. This move will enable the company to refinance its banking facilities earlier than planned, secure interest savings, and invest in new technologies. The placing has the support of an existing institutional shareholder and is part of a strategy to achieve a net debt leverage target of less than 1.5x by the end of FY 2025.
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