7th Jun 2024 13:04
SysGroup PLC - Liverpool, England-based IT services, cybersecurity, and cloud hosting provider - Raises GBP11.0 million via oversubscribed placing and subscription at 33 pence per share. Originally intended to raise GBP10.0 million. Says placing has raised GBP8.9 million and the subscription has raised GBP2.1 million. In addition, SysGroup plans to launch a GBP0.5 million retail offer.
Executive Chair Heejae Chae says: "We are pleased with the level of support from our existing shareholders and are delighted to welcome a number of new investors to the register who share our vision for the business in its next stage of growth. We trust that the retail offer provides smaller shareholders the opportunity to participate also."
SysGroup believes it has sufficient working capital for its present requirements, that is for at least 22 months.
Current stock price: 35.35 pence, up 1.0% in London on Friday
12-month change: down 0.4%
By Jeremy Cutler, Alliance News reporter
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