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Structural shares slump 29% after calling off deal

Structural shares slump 29% after calling off deal

Shares in structural integrity testing technology developer Structural Monitoring Systems (ASX:SMN) slumped 28.6% today, after the company revealed it had terminated a contract agreement.

The company had been renegotiating an agreement it had reached in September to co-develop CVM technology for the civil and aerospace sectors.

But Structural said the new terms the other party had offered did not provide sufficient assurance of future revenue streams to SMN as a supplier to the company.

Structural has commenced discussions regarding a potential capital raising and partnership, in an effort to find an alternative revenue stream, the company added.

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