29th May 2014 10:10
LONDON (Alliance News) - Insetco PLC Thursday said it has raised GBP150,000 through a share subscription with Gilbert Eliot Holdings Ltd, funds it said it will use to strengthen its financial position and for potential investment opportunities.
The group placed the 150 million shares at 0.1 pence each.
Insetco said that Gilbert Eliott Holdings , which does not currently hold any shares in the company, will now hold a 29.18% shareholding in the company following the share subscription.
Insetco is principally engaged in developing an infrastructure and exploiting commercial opportunities within the area of financial products.
Insetco shares were trading 5.4% higher Thursday morning at 0.448 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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