LONDON (Alliance News) - Ceramic Fuel Cells Ltd on Friday said it has further extended the closing date for its rights issue to November 19.
The company, which makes fuel cell generators, had previously extended the closing date to November 12, from October 29.
It is seeking to raise AUD13.7 million in a three-for-five rights issue in order to raise funding for working capital, increased sales and marketing spend, research and product development.
Ceramic said it would issue up to 1.5 billion shares on the basis of three new shares for every five existing shares at a price of 0.90 cents each.
Ceramic Fuel Cells shares were down 3.6% to 0.4 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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