14th May 2018 13:08
LONDON (Alliance News) - Legendary Investments PLC said Monday it has raised cash through a share placing to fund seed investments and repay debt.
The investment company raised GBP550,000 through the placing of 550 million new shares at 0.1 pence each.
The company said it will use the funds raised through the placing to fund seed investments, repay debt, and for general working capital purposes.
Legendary Investments also said Executive Chairman Zafar Karim intends to buy a total of 100 million shares at 0.1p per share. After the transaction he will hold a total of 155 million shares in the company.
After the placing the total number of shares on the market will be 3.8 billion.
Shares in Legendary Investment were trading at 0.12p, up by 3.3%.
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Legendary Investments PLC