23rd Apr 2014 12:04
LONDON (Alliance News) - Concha PLC Wednesday said that it raised gross proceeds of GBP2 million through a subscription of 333.3 million new shares with investors at 0.6 pence per share.
The AIM-quoted investment company said it will use the net proceeds from the subscription for additional investments.
As part of the subscription, the company agreed to issue one warrant for every four subscription shares subscribed by the subscriber, giving the holder the right to subscribe for one share at 1.20 pence.
Concha said it received notice of the exercise of 6.5 million warrants, generating gross cash proceeds of GBP19,437 for the company.
Concha shares were down 0.6% at 0.880 pence per share Wednesday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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