Paper Plus raises capital after covenant breach
Retail co-op issues 584,000 new shares at $1 each.
Retail co-op Paper Plus New Zealand unsuccessfully tried to raise more than $1 million after it breached bank covenants during a 2024 financial year in which it recorded a $553,000 loss.
Earlier this year, the company's financial statements for the year ended March 31, 2024, noted that the board
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