Wednesday, January 26, 2011

EMS

EMS: +18% at $0.065 on above avg volume. To issue 84m shares (14% of enlarged share base) for total of $4.3m, at ~$0.05/sh through a private placement to various individual investors. Of the proceeds, $3m will be used to finance the pipelay system contract announced on 13 Dec ’10, and the remainder will be for working capital.

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