Pearlstreet Announces Investment Over $23m by Catalyst Private Equity (PST.AX, 00992547, 20090929)

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Pearlstreet Announces Investment Over $23m by Catalyst Private Equity
Tuesday September 29, 2009, 9:38 am

Original Announcement: Private Equity to Invest over $23M in PearlStreet

Pearlstreet announced that it has accepted a binding recapitalisation proposal from a major private equity firm, Catalyst Investment Managers. The recapitalisation will be completed at a significant 60% premium to the Company's current share price, based on the 5 day VWAP. The re-capitalisation of PearlStreet by Catalyst will immediately result in a total of $23m invested into the Company. These funds will include a $20m placement, and the exercise of options totalling $3.4m. The proceeds of the placement and the exercise of the options will be used to repay Company debt.

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