6th Jun 2024 19:55
SysGroup PLC - Liverpool, England-based IT services, cybersecurity, and cloud hosting provider - Plans to raise GBP10 million via placing and subscription at 33 pence per share. Also plans GBP0.5 million retail offer at same price. Proceeds will be used to fund an internal transformation project, strengthen the balance sheet to provide for ongoing working capital requirements as the business continues to drive growth, as well as liquidity for M&A opportunities, whilst ensuring that the Company remains compliant at all times with its obligations under its existing financing arrangements.
Current stock price: 34.70 pence, down 0.9% in London on Thursday
12-month change: down 2.3%
By Jeremy Cutler, Alliance News reporter
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