Landmark White said it was on track to narrow its annual net loss after tax to $1.5 million after shareholders backed a capital raising bid and gave the troubled company $5.44 million to keep going.
Sydney-based Landmark White, which last month said it would not be able to operate if shareholders did not stump up at least $3 million in an equity raising, on Monday said "strong support" from existing and new investors – including company employees – meant the equity-raising was oversubscribed.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
