29th Mar 2021 19:23
Arena Events Group PLC - bespoke turnkey temporary structure builder - Intends to raise GBP11 million through placing of 67.9 million shares, and subscription for 10.7 million shares, each at a price of 14 pence each.
Proceeds will go towards funding the group's share of the potential acquisition of the business as assets of Aztec Shaffer, as well as provide cash for other opportunities.
"We completed the acquisition of the assets of Williams Party Rentals in San Jose in the middle of last year and continue to look at other similar potential distressed acquisition opportunities. We are therefore taking the opportunity to raise additional funds now to allow us to finance bids for strategic assets, such as Aztec Shaffer, and other possible targets as they arise," says Chief Executive Officer Greg Lawless.
Current stock price: 14.00 pence
Year-to-date change: up 37%
By Dayo Laniyan; [email protected]
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