5 March 2021 - placing and open offer
The company has announced that it has raised £8.0m in a placing of shares with both new and existing shareholders at 240p per share. The funds raised will be used to further develop the company's XFiltra technology which prevents polluting microfibres from washing machines being discharged into the environment. This is clearly a potentially enormous market with an estimated 280m kg of microfibres reaching the environment from washing machines. With the world increasingly concerned about the environment, any moves to reduce pollution and damage to the natural world are well-received . . .
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