20th Aug 2020 16:46
Immedia Group PLC - Newbury, Berkshire-based multi-media content and digital solutions supplier - Raises GBP1.1 million through placing of 8 million shares at 10 pence each and subscription by Non-Executive Director Mark Horrocks for 3,000 shares at the same price.
Says new cash will be used to repay some short-term loan finance and to pay some transaction costs arising from an acquisition which was to complete in the second half of 2019 but was aborted. The remainder of the funds will be used for working capital.
Immedia highlights that following the repayment of the loan finance, it will have zero debt apart from finance leases.
Current stock price: 24.90 pence
Year-to-date change: down 6.0%
By Ife Taiwo; [email protected]
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