4th Dec 2015 09:36
LONDON (Alliance News) - Lead All Investments Ltd on Friday said it is aiming to raise about GBP750,000 by issuing new shares and conducting an open offer.
There will be a firm placing of 27.6 million shares, as well as a conditional placing and open offer of up to 122.4 million shares. The issue price of the shares has been set at 0.5 pence.
"The company has, since incorporation, been unable to find a suitable investment within its investing policy. Over time, the cash resources available to the company have become depleted such that the ongoing process of securing an investment the board feels capable of recommending to Shareholders has become compromised," Lead All Investments said in a statement.
"The board considers that there remain reasonable prospects of securing an investment and that, in the pursuit of the strategy of the company, that it will be necessary that further funds be available to support that process," Lead All Investments said.
Simultaneously, the company proposed a sub-division of each of its shares of 1.0p into two shares of 0.5p.
Shares in Lead All Investments were untraded on Friday.
By Samuel Agini; [email protected]; @samuelagini
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