Spectur Limited announcement overview

Spectur Limited (ASX: $SP3) has successfully completed a $250k placement to existing shareholders, aimed at raising funds to fully repay the remaining $250k debt outstanding to EGP Capital. The placement was priced at 2c per share and was capped at the amount required to settle the EGP loan. The company's Managing Director, Gerard Dyson, expressed gratitude for EGP Capital's long-term support and emphasized the significance of moving forward with a substantially debt-free balance sheet.

Executive commentary on debt repayment

Spectur Managing Director, Gerard Dyson, stated, 'EGP Capital has been a long-term supporter of Spectur via this debt facility and through being a top 10 shareholder, and their support is greatly appreciated. We are pleased to fully repay this debt and move forward with a substantially debt-free balance sheet.'

Summary of Spectur's announcement

Spectur Limited (ASX: $SP3) has successfully completed a $250k placement to existing shareholders, raising funds to fully repay the remaining $250k debt outstanding to EGP Capital. The company's Managing Director expressed gratitude for EGP Capital's support and highlighted the importance of achieving a substantially debt-free balance sheet. Spectur's forward-looking information indicates a focus on business strategy, development, and product/service evolution, with an emphasis on growth and performance. The completion of the placement and debt repayment reflects the company's commitment to maintaining a strong financial position and pursuing its strategic objectives.