12 October 2017 – Fund raising
Following last week’s fund raising, the group has announced that it has raised another £2.8m in a placing of shares at 37.5p. The placing has been carried out to allow another investor to subscribe for new shares – the investor was unable to participate in last week’s fund raising as the necessary paperwork was not completed on time. The additional funds will strengthen the group’s balance sheet and it is clearly encouraging that large investors such as this are looking to support the company. Although investors may need to be patient, the shares are a LONG TERM BUY.