Cadmus seeks to raise up to $7.5m in notes

Eft-pos technology company Cadmus Technology said today a subsidiary company would seek to raise up to $7.5 million in first secured notes.

Cadmus Developments Ltd has lodged a prospectus for registration of the issue, which would be used to redeem the current first secured notes , and help fund further growth.

The offer will remain open until March 28 or possibly earlier.

Up to $3.5 million of the offer has been underwritten by FE Investments Ltd, subject to certain limited conditions.

The notes will attract an interest rate of 9.9 per cent per annum.

Cadmus' share price was flat at 21c in early afternoon trading. The stock has traded between 18c and 25c during the year.

- NZPA