Second-tier telecommunications firm Amcom has entered into agreements with a number of its option holders to cancel 81 million options for a fee of 4¢ an option. The options are exercisable to shares at 17¢ each on or before December 31. In combination with the cancellation of the options, Euroz Securities will underwrite the exercise of 150 million options on issue at 17¢ each. The transaction will raise approximately $21 million.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
