ZYL (ASX:ZYL) raises $675k in undersubscribed SPP

ZYL (ASX:ZYL) raises $675k in undersubscribed SPP

Security technology company ZYL Limited (ASX:ZYL) has raised $675,000 from a share purchase plan – far less than the $1.73 million goal.

The SPP, which opened on July 22, will result in the future issue of 37.5 million new shares to 270 applicants.

The funds will be used to enhance R&D for ZYL's SmartG Enterprise Protection product line.

The shortfall will be allocated to strategic investors over the coming weeks.

ZYL shares are today trading 8.7% lower at $0.021.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Share Purchase PlanZYLASX:ZYL

Show Comments