4th Jul 2025 12:16
Thruvision Group PLC - Abingdon, England-based provider of walkthrough people-screening technology - Raises GBP2.1 million from an oversubscribed placing of 212.5 million new shares at 1 pence each. Some directors and staff intend to subscribe for a further 37.5 million new shares at the same price to raise an additional GBP375,340. The subscriptions will be delayed while the company is in its closed period ahead of the release of its results for the financial year that ended March 31. Thruvision also intends to launch a retail offer for up to 25 million new shares at the same price to raise up to GBP250,000 gross. Assuming full take-up, the new shares will represent 158% of Thruvision's existing total. Alenby Capital Ltd is running the placing as sole bookrunner.
On Wednesday, Thruvision had said it signed a material contract with an unnamed new government customer in Asia, helping to more than double its first-quarter order intake and extend its cash runway until the end of 2025. The company on Friday says it concluded its strategic review, which included the potential sale of some or all of the company, and decided to remain independent and raise fresh capital instead. It says it reached this decision based on improved trading, the successful launch of its Thruvision 81 series product in February, and the signing of 11 new customers since the start of 2025.
Current stock price: 1.30p, down 7.1% in London midday Friday
12-month change: down 92%
By Tom Waite, Alliance News editor
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