23rd Jun 2015 07:06
LONDON (Alliance News) - Africa-focused minerals explorer Alecto Minerals PLC shares dropped heavily in early trade on Tuesday after the company raised GBP300,000 via a discounted share placing.
Alecto issued 300 million shares at 0.1 pence per share via Beaufort Securities. Its shares were trading down 21% to 0.13 pence in early trade, one of the worst performers in the AIM All-Share.
Alecto intends to use the proceeds from the issue to provide additional working capital as it runs the rule over potential acquisition opportunities.
By Sam Unsted; [email protected]; @SamUAtAlliance
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