Structural integrity testing technology developer Structural Monitoring Systems (ASX:SMN) said it will soon launch a non-renounceable rights issue to raise $1.4 million.
The company is planning a one-for-three issue at $0.01 per share, with an attached one-for-one free listed option.
SMN added that it intends to conduct an investor open house meeting in order to fill in shareholders about its plans for 2011, including its restructuring efforts. SMN shares fell 20% on Thursday to $0.012.
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