ORT announces XCapital decision
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Tuesday, 22 March, 2005 - 21:00
ORT Limited has appointed Sydney-based corporate advisory group XCapital to advise on funding options for completing its first waste treatment plant in Perth. ORT has a contract with the Western Metropolitan Regional Council to build the waste treatment plant at its Brockway Road transfer station, in Subiaco. However, the project has been delayed by ORT’s inability to complete a planned capital raising. Projections released to the ASX earlier this month indicate the company is seeking to raise $9.5 million (net of expenses) so that it can complete the plant and have sufficient working capital to pursue further opportunities.
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