25th Jan 2017 09:47
LONDON (Alliance News) - Fitbug Holdings PLC on Wednesday said it raised GBP1.0 million through issuing 500.0 million shares at 0.20 pence per share, with those shares being issued to equal almost 30% of the enlarged share capital of the group and 41% of the current issued share capital.
Shares in the fitness wearables maker were down 27% at 0.193p on Wednesday, having closed on Tuesday at 0.259p.
Currently there are 1.23 billion Fitbug shares in issue, and the new shares will be admitted to trading next week, on Thursday. Funds will be used for general corporate purposes.
"We have made good progress with the development and sales of our digital wellness programmes in pursuit of our service based strategy to focus on corporate wellness. We believe that our prospects for 2017 are positive and we are now looking for opportunities to accelerate our growth strategy," said Chief Executive Anna Gudmundson.
By Hannah Boland; [email protected]; @Hannaheboland
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