6th Mar 2015 08:48
LONDON (Alliance News) - DDD Group PLC on Friday noted the recent fall in its share price and said it is set to sign a financing deal and launch an equity placing in order to shore up its finances.
The imaging company said it expects an agreement to be reached imminently for the issue of around GBP350,000 in convertible unsecured loan notes and an additional equity placing of up to 28.5 million shares at 2 pence per share, which would raise a further GBP570,0000.
DDD said talks are ongoing with the participants in the loan notes and said there remains no certainty a deal will be agreed.
The company said concluding the deal will give it sufficient working capital to cover 2015.
DDD shares were untraded on Friday, having last traded at 1.40 pence. Shares in DDD are down 44% in the year to date.
By Sam Unsted; [email protected]; @SamUAtAlliance
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