11th Mar 2014 12:22
LONDON (Alliance News) - Cientifica PLC Tuesday confirmed it had recently sought to raise between GBP300,000 and GBP400,000 in new capital through a share placing, but was unable to complete the placing due to difficult market conditions.
The company said that it will now consider a possible fund-raising in conjunction with a suitable investment opportunity, or opportunities, later in 2014, subject to market conditions.
"Although it has not been possible to complete the fundraising, we remain excited about a number of graphene-related investment opportunities that we have been reviewing, and we look forward to returning to the market to seek funding for these opportunities at a more appropriate time," said Chief Executive Tim Harper in a statement.
Shares in Cientifica were trading down 1.5% at 3.20 pence early Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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