12th Mar 2021 14:08
Getech Group PLC - Leeds-based geoscience and geospatial products firm - Raises GBP6.0 million through two tranches of share placing and subscription, to strengthen its balance sheet and for products and services investments. Notes the placing and subscription was for 27.3 million shares at a price of 22 pence per share. Says it is launching an open offer to qualifying shareholders to raise up to GBP250,000 on the basis of one new share for every existing 33 shares held.
"The combination of a placing and subscription with institutional and other investors alongside an open offer both broadens our shareholder base while allowing all shareholders the opportunity to participate. We look forward to utilising the net proceeds to execute multiple growth opportunities, which we have identified through a methodical and balanced programme of business development," says Chief Executive Jonathan Copus.
Current stock price: 25.50p
Year-to-date change: up 100%
By Zoe Wickens; [email protected]
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