Introduction to Traffic Technologies Ltd's share purchase plan

Traffic Technologies Ltd (ASX: $TTI) has announced the launch of a share purchase plan (SPP) for eligible shareholders. The SPP offers an opportunity for eligible shareholders to increase their investment in TTI by acquiring fully paid ordinary shares. The offer opens today and is expected to close on 26 April 2024. The funds raised through the SPP will be utilized for working capital, cost reduction programs, and reorganization of production facilities.

Executive commentary on the share purchase plan

The Managing Director of Traffic Technologies Ltd, Con Liosatos, stated that the SPP provides an opportunity for eligible shareholders to participate in the company's growth and contribute to its strategic initiatives. The funds raised will support the company's ongoing projects and help in the reorganization and consolidation of production facilities. Additionally, the company is reviewing various options, including divestments of non-core businesses and partnerships with other companies, to meet its funding requirements.

Summary of the share purchase plan announcement

Traffic Technologies Ltd has introduced a share purchase plan (SPP) for eligible shareholders, allowing them to acquire fully paid ordinary shares. The SPP, with an offer price of $0.0062 per share, opens today and is set to close on 26 April 2024. The funds raised will be used for working capital, cost reduction programs, and reorganization of production facilities. The company is also exploring additional options, such as divestments and partnerships, to meet its funding requirements. Eligible shareholders can participate in the SPP either online or through paper applications. The SPP is non-renounceable and participation is voluntary. The company may scale back the number of new shares in the event of oversubscriptions. Shareholders are encouraged to seek independent advice before participating in the SPP.