4th Feb 2015 08:04
LONDON (Alliance News) - Arria NLG PLC Wednesday said it has raised GBP408,270 before expenses after existing shareholders subscribed for nearly 1.2 million shares at 35 pence a share, money that will be used as working capital to support recent contract wins.
The language generation technology business said that under the terms of the subscription it has granted one warrant for every five subscription shares, so 233,296 warrants will also be issued with an exercise price of 133p each. They can be exercised at any time until the end of Sepetember, 2017.
"With the signing of six new commercial agreements in the past six months, in the areas of insurance, banking, agriculture, aviation, oil & gas services and cognitive technology, it is gratifying to have the continuing support of our existing shareholders. Arria's client base is expanding along with its product solutions, and we appreciate the support of our shareholder base," Chairman Stuart Rogers said in a statement.
By Steve McGrath; [email protected]; @stevemcgrath1
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