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Bisan Limited updates on MyGeneration Smartphones

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Bisan Limited (ASX:BSN) has provided an update on MyGeneration Smartphones.

The company said that on 18 August 2015 the Supreme Court of Victoria made orders that Yehuda Shmaya Szender pay the Bisan group A$30,157.90 plus GBP 169,854.18 (both amounts include interest) together with the costs of the proceedings.

Bisan added that it is considering the options available for the enforcement of the Court orders both within and outside Australia.


Capital raising update

Bisan said that the directors have been considering options to raise further capital for investment activities, and no decision has been made yet.

The company added that one of the options is a rights issue to all shareholders to enable them to participate in any future capital raising.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Bisan Limited

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ASX:BSN
Market: ASX
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