20th Aug 2015 12:03
LONDON (Alliance News) - Anti-microbial technology company Byotrol PLC on Thursday said it has raised GBP1.4 million via a conditional share placing.
Byotrol said it will issue 43.0 million shares at 3.25 pence per share. Shares in Byotrol were untraded Thursday, having last traded at 3.25 pence.
The proceeds from the issue are to be used primarily to invest in sales and marketing functions at the company.
"We are delighted to have received such strong support from both existing and new shareholders for this fundraising, which was priced at a premium to our last financing in 2014. We will continue to run the company on a conservative basis, with a disciplined approach to costs, but we will now be able to invest more in exploiting our technologies and our recently-developed customer relationships, especially Solvay," said Chief Executive David Traynor.
By Sam Unsted; [email protected]; @SamUAtAlliance
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