PPR purchase

LISTED ecommerce group CHROME Global has moved into the public relations field, acquiring Blue Regal Corporation Pty Ltd which trades as the WA licensed affiliate of Professional Public Relations Australia.

A total of 20 million shares are to be issued to the shareholders of PPR (WA), conditional upon achievement of certain milestones, and subject to CHROME’s shareholders approval, together with a cash component of $200,000. CHROME plans to raise up to $800,000 including a rights issue to existing shareholders of approximately $600,000 which will be managed by Montagu Corporate.

In a statement to the Australian Stock Exchange, CHROME said its board of directors had initiated an extensive review of operations, market position and future strategy.

This initial review of the company has resulted in the requirement to implement several changes to its operations.