17 January 2020 - fund raising
The group is proposing to raise £1.49m before expenses through a placing and open offer of shares at 10p. Some 10m shares will be issued to new and existing shareholders through a placing whilst there will also be an open offer to qualifying shareholders on the basis of 1 new share for every 7 shares held. The funds raised will be used to strengthen the group's balance sheet, provide additional working capital for growth opportunities and to help fund some capital expenditure in the USA. We believe the sharers are a good recovery . . .
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