Pulse Investments Limited (PULS) has advised that their Board of Directors has decided that the Company will not pursue the previously announced rights issue, as it has now secured funding from a related party as well as a bond from NCB Capital Markets Ltd. The Directors decided, on reflection, that the funding now secured, is a less expensive alternative for the Company than the rights issue would have been. Further, no shareholders run the risk of dilution of their Pulse shareholding as a result of the current course of action.
PULS further states that it wishes to clearly indicate that the rights issue, which would have been arranged and brokered by NCB Capital Markets Ltd, had been approved, with sufficient commitments made to ensure that the issue would have been fully subscribed.
