9th Oct 2024 11:04
Rosslyn Data Technologies PLC - London-based data analytics - Raises GBP1.6 million from placing of 32.7 million shares at 5 pence. The company also plans to raise up to GBP250,000 from a retail share offer at the same price via the PrimaryBid platform, and Non-Executive Chair James Appleby will invest GBP264,000 via a share subscription, also at the same price. Rosslyn additionally secures GBP1.2 million from the issue of convertible loan notes. It calls a general meeting for October 25 to approve the raise.
Rosslyn previously said the fresh equity, which was accompanied by a share split, was to enable the company to achieve positive adjusted earnings on a running monthly basis later in financial 2025, which ends in April. Rosslyn's share price got a boost back in August when it announced a major new contract win with "a global household name".
Current stock price: 5.69p for GBP1.0 million market capitalisation prior to admission of new shares
By Tom Waite, Alliance News editor
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