Style Ltd. Raises $1.25 Million in Stock Offering

Melbourne, Australia, Dec. 22, 2009—Australian flooring firm Style Ltd. raised $1.249 million with a rights issue.

The firm said that existing eligible shareholders subscribed to 47,311,386 new shares, or 56.8 percent of the issue, raising a total of $709,670.79 before costs.

The shortfall of 35,975,907 shares will be purchased by BGF Equities Pty Ltd or its sub underwriters.

Style CEO Peter Torreele said, “We are pleased with the support received from our shareholders, with their confidence in the company’s future and the commitment they have made to the Company’s development and growth.”