IOUpay Launches $1m share purchase plan
- IOUpay (IOU) launches a $1 million share purchase plan (SPP) to “enhance” its financial position
- Under the plan, eligible shareholders will be able to subscribe for $30,000 worth of new shares at 4.5 cents per share
- The company says the funds will go towards general working capital and the progression of operations such as new product development and an expansion in South East Asia
- Meanwhile, Company Secretary Jarrod White has resigned, to be replaced by Louisa Ho, effective immediately
- At market close, IOU shares had fallen 14.29 per cent to 4.8 cents
