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VDM Group Announces $35m Capital Raising
Friday October 23, 2009, 7:43 pm

Original Announcement: $35 million Capital Raising

VDM Group announced combined capital raising initiatives raising $35m to be used to reduce debt levels and strengthen the company's financial position. The combined capital raising involves: a placement of 10m shares at 50 cents each (Tranche 1) to raise $5 million; a fully underwritten renounceable entitlements offer to VDM Group shareholders on a 3 for 7 basis at an issue price at 42 cents per share, to raise approximately $25m; and a placement of 10m shares at 47.5 cents (Tranche 2) to raise a further $4.75m.

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