Empire Beer Group lodges prospectus

Perth-based Empire Beer Group has moved to bolster its financial position, launching a $1 million capital raising.

Empire lodged a prospectus with the Australian Securities and Investments Commission today, offering 5,000,000 shares at 20 cents a share.

Empire is looking to raise the funds as part of its share purchase agreement to acquire New Zealand-based car park technology business Meter Eye.

Completion of the share offer and the acquisition of Meter Eye, which was first announced December 22, is subject to shareholder approval at Empire's general meeting scheduled for January 24.