GDC Seeks Cash Injection
Posted on: Thursday, 26 August 2004, 06:00 CDT
GDC Communications is asking its shareholders to inject $3 million into the company for acquisitions to rebuild the telecommunications service provider
. GDC is shifting direction to build up its IT services after losing core field and maintenance contracts with Telecom worth about $38 million a year in revenue. GDC announced a rights issue of four shares for every five at a cost of 10c a share which it hopes will raise $3 million.Related Articles
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