14 October 2011 – fundraising

The smart LED lighting group has raised some £1.35m through a placing and subscription with institutional and other shareholders ar 12p.  Chairman Drew Nelson has subscribed for 250,000 shares.  The funds raised will be used to develop ChromaWhite, the next generation of LED light engines as well as provide further working capital.  Although so far the shares have been disappointing we continue to believe in the company’s long-term potential.  BUY