- Decmil Group (DCG) enters a trading halt while it considers, plans and executes a capital raising
- The company will remain in the halt until the earlier of July 26 or when a further announcement is made
- In late June, Decmil announced it had extended its primary banking facility with NAB until July 31, 2023
- The facility consists of a $40 million commitment and includes overdraft, letter of credit and bank guarantee facilities as well as accounts receivable financing
- Shares in Decmil last traded at 43 cents on July 21
Decmil Group (DCG) has entered a trading halt while it considers, plans and executes a capital raising.
The company will remain in the halt until July 26 or when more details regarding the raise are released, whichever ever occurs first.
Decmil is yet to disclose how much it intends to raise or what it will use the funds for once received.
In late June, Decmil announced it had extended its primary banking facility with National Australia Bank (NAB) until July 31, 2023.
The original facility was due to be renewed on October 31, 2021.
The facility consists of a $40 million commitment and includes overdraft, letter of credit and bank guarantee facilities as well as accounts receivable financing.
CEO Dickie Dique was pleased its partnership with NAB had been extended for a further two years.
“Decmil has been supported by NAB for well over a decade,” Mr Dique said at the time.
“The extension of this facility is a strong show of support from Decmil’s financial providers and will help Decmil deliver on its emerging growth strategy.”
Shares in Decmil last traded at 43 cents on July 21. The company has a $55.35 million market cap.