10th Jun 2016 07:48
LONDON (Alliance News) - Arria NLG PLC Friday said it is well advanced in its preparations to list on both the New Zealand Stock Exchange and Australian Securities Exchange, and as part of these listings plans to raise additional funds.
The natural language generation technology company intends to maintain its listing on London's AIM market and "is considering the most suitable structure for this".
Arria also said it issued a further GBP262,000 of loan notes and B warrants attached to existing investors in the company. The loan notes are convertible into ordinary shares in the company at 40 pence per share, and the B warrants are to subscribe for new shares at 12p per share.
Shares in Arria were untraded Friday, having last closed at 20.37p.
Arria said it has raised a total of GBP6.3 million in funding over the last year.
It has begun talks with a number of potential investors over raising funds as part of the new listings, and noted that, should the listings and associated fundraisings not be completed by the end of the summer, it will need to seek alternative financing in the short term and has plans in place to do so.
Arria will report its interim results next Wednesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
NLG.L