7th Jan 2019 13:44
LONDON (Alliance News) - Directa Plus PLC on Monday said it raised GBP300,000 via a previously announced share open offer, significantly less than GBP1.0 million target.
The Graphene-based products firm said shareholders took up 603,609 shares representing 30% of the maximum available under the offer.
The open offer was announced in mid-December, when the company said it would issue up to 2.0 million of shares at 50 pence each targeting to raise GBP1.0 million. Shareholders were entitled to subscribe for 1 open offer share for each 22 existing ordinary shares.
Admission of the new shares to trading is expected on Wednesday. Directa Plus shares were trading down 5.3% at 45.0p each on Monday afternoon.
Among the subscribers, Chairman Peter Middleton took up 5,000 shares for GBP2,500, Chief Executive Officer Giulio Cesareo 210,000 shares for GBP105,000, Chief Financial Officer Marco Ferrari 10,000 shares for GBP5,000.
Non-Executive Directors David Gann subscribed for 41,000 shares worth GBP20,500, while Neil Warner for 2,000 shares for GBP1,000 and Richard Hickinbotham for 40,000 shares worth GBP20,000.
After the deals, all the directors retain a stake below 1.0% while CEO Cesareo owns 6.75% of the company.
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Directa Plus