IN BRIEF: Dillistone raises funds in case markets remain challenging
Dillistone Group PLC - Basingstoke, England-based supplier of software and services to recruiters - Provides trading update and announces fund raise. Agrees to raise GBP300,000 through the issue of convertible loan notes and GBP60,000 through the issue of new ordinary shares. On trading, says softness seen in second quarter has continued into the third. Despite this, expects results for half-year to June 30 to be in line with management expectations. This would equate to a significant improvement in operational profitability, compared to last year. The business was again operationally cash generative in the period, company says. Considers the fundraising a prudent course of action in case markets continue to be challenging for an extended period. Proceeds will therefore be used to provide additional working capital. Read More