4th Nov 2015 08:48
LONDON (Alliance News) - Investment company Craven House Capital PLC saw its shares rise in early trade on Wednesday after it said it has signed a GBP30.0 million financing agreement with GEM Global Yield Fund.
Under the agreement, New York-based Global Emerging Markets Group will provide Craven House with up to GBP30.0 million through a stock subscription agreement with the Global Yield fund.
The funds will be provided at Craven House's discretion and will provide the company with the equity capital it needs to pursue future investments.
"This agreement provides Craven House with significant permanent capital to support future acquisitions. Having fresh capital available will speed the rate at which Craven House can continue to build value for shareholders over the long term," said Mark Pajak, Craven House's chairman.
Craven shares were up 58% on the news to 0.75 pence, one of the best performers in the AIM All-Share in early trade.
By Sam Unsted; [email protected]; @SamUAtAlliance
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