Print management company Argus Solutions (ASX:ASV) has entered into debt repayment agreements with its two major suppliers, Print Media Group and ADSONE.
If shareholders agree to the deals, Print Media and ADSONE will convert up to $4.34 million in debt into new Argus shares over the next four months.
Argus said the transaction will provide it with extra working capital to fund its current operations and re-establish supply in non-print areas of its business.
Argus' major shareholder, Masada Enterprises, has advised it will be voting in favour of the transaction as long as an independent expert signs off on it.
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