Leed Resources plc, (AIM: LDP), the natural resource investment company, is pleased to announce that the A$1.3 million financing for Battalion International Limited (“Battalion”) described in the announcement dated 28 July 2015, has successfully closed. Following the financing, Leed’s total investment in Battalion is A$1.68 million (approximately £790,000) and through the back to back financing arrangements between Battalion and its subsidiary, High Mannor Pty. Limited (“HM”), the business is now well capitalised as it prepares to deliver the second generation reconstituted limestone wall panels into the Western Australian construction industry.
Commenting on the closing of the financing, Ian Gibbs, Chairman of Leed, said: “With the increased funding, High Mannor is now in a position to complete certain operational improvements which will allow it to maximise the impact from the imminent delivery of wall panels. High Mannor is then expected to deliver a substantial increase in profitability over the next few months as it successfully increases production and deliveries of panels into the market.”
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.