Advance SCT

Advance SCT: Proposed a renounceable 2-for-5 rights issue of 1.17b new shares at $0.008 each, or a 20% discount to its last closing price of $0.01. The rights issue will enlarge the current share capital by up to 40%, and raise gross proceeds of $9.35m upon full subscription. Proceeds will be used to fund the group's expansion (43.4%, $4m), repayment of debt (41.3%, $3.8m) and the remaining for working capital.