Windflow shareholder comes to the party
NZ turbine manufacturer Windflow Technology’s bid to raise NZ$2.4 milion funds from existing shareholders has received a boost with a major shareholder signing up for $50,000 in new shares.
Wolfgang Rehfus, a Swiss national who is a frequent visitor with business interests in New Zealand, holds 270,000 Windflow shares and is seeking to increase his holding to 400,000 shares with an investment of $50,000 by means of a private placement on top of the $15,000 Share Purchase Plan.
“This is not a time to stop the project ‘Windflow’, but to rebuild the company,” Rehfus said.
Windflow shareholders have been invited to invest between $3,000 and $15,000 in additional shares at $0.50 under the share purchase plan which closes next week.
The companys cash reserves are running low, and Windflow needs to raise a minimum of $2.4 million to allow it to market its intellectual property and to maintain its presence in the UK, where it sees changes in feed in tariff regulation as a key to its future.
This entry was posted onWednesday, September 28th, 2011 at 2:05 pm and is filed under Financing, Wind. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. Both comments and pings are currently closed.