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Adacel raising props up depleted reserves

Software developer Adacel Technologies has raised new cash to fund its push into the US market after a horror fiscal 2004 wiped out the company's cash reserves.

Investors including Richard Pratt's Thorney Holdings and former Liberal Party politician Julian Beale have backed Adacel's attempt to raise $6.5 million in a rights issue.

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    Original URL: https://www.afr.com/technology/adacel-raising-props-up-depleted-reserves-20050112-jlfav