The firm had announced the plan to issue the bonds with a view to shoring up its balance sheet after a couple of years of losses and to pursue acquisition opportunities.
However, it issued a statement last Thursday (19 June) ahead of this week's AGM on 25 June, stating that after considering the matter further and giving "regard to current market conditions and other considerations", its board has decidedd not to pursue the proposed bond issue.
Former Depa CEO and co-founder
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