29th Mar 2016 07:53
LONDON (Alliance News) - Athelney Trust PLC on Tuesday said it is planning to raise funds through a share placing.
The trust, which invests in smaller companies, said it will issue up to 9.9% of its existing issued share capital to raise the cash, subject to market demand. No pricing details were provided.
"We are hoping to raise additional funds to invest in accordance with our stated investment policy. Our primary objectives are to reduce our total expense ratio by the same percentage as the placing, and to improve liquidity, without incurring significant issue costs," said Managing Director Robin Boyle.
Athelney shares were untraded on Tuesday, having last traded at 222.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Athelney Tst.