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.