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- Sports, leisure and hospitality technology provider MSL Solutions (MSL) has launched a share purchase plan (SPP) in the wake of the acquisition of OrderMate
- The company has also secured as $4.5m convertible note with zero per cent coupon rate with US-based investor Taubman Capital
- In its full year results announcement, MSL revealed it had earnings before interest, taxes, depreciation and amortisation of $3.1 million for FY21
- Net profit after tax also increased to $900,000 in FY21 following a loss of $16.4 million in FY20
- Shares in MSL closed at 24 cents on October 6
Sports, leisure and hospitality technology provider MSL Solutions (MSL) has launched a share purchase plan (SPP) to assist with the acquisition of OrderMate.
The SPP opens on October 7, with shares to be issued at 20.78 cents.
The company has also secured as $4.5m convertible note with zero per cent coupon rate with US-based investor Taubman Capital.
In its full year results announcement, MSL revealed it had earnings before interest, taxes, depreciation and amortisation (EBITDA) of $3.1 million for FY21.
This is up from the EBITDA loss of $940,000 reported on in FY20.
Net profit after tax also increased to $900,000 in FY21 following a loss of $16.4 million in FY20.
MSL ended the 2021 financial year with a cash balance of $5.4 million and available liquidity of $1.2 million in undrawn loan facilities.
MSL last tapped shareholders for cash in December 2019 in regards to a $2.7 million share purchase plan.
A total of 35,989,811 shares were on offer at a price of 7.5 cents.
This followed on from a $2.73 million placement made to institutional and sophisticated investors.
Shares in MSL closed at 24 cents on October 6.
