Norwood Abbey Limited Completes Private Placement For A Total Of $5.8 Million
10/19/2005 5:13:10 PM
MELBOURNE, Australia--(BUSINESS WIRE)--March 29, 2005--Norwood Abbey Limited (OTC:NABYF) (ASX:NAL):
-- Placement raises approximately $5.8 Million
-- Arrangements with U.S. institutions sufficient to fully fund Business Plan
-- U.S. shareholders now own approximately 26% of Norwood Abbey
Norwood Abbey Limited (OTC:NABYF) (ASX:NAL) announced that it has completed a private placement to three U.S. institutions to raise an immediate $5.8 million (U.S. $4.5 million). Through this transaction, Norwood Abbey continues to build its base of U.S. shareholders who now own approximately 26% of the Company.
The placement has been made to three existing prominent New York-based shareholders. These institutional investors continue to add to their equity position in Norwood.