24th May 2016 08:58
LONDON (Alliance News) - MXC Capital Ltd on Tuesday said it has raised GBP7 million through the placing of 274.5 million shares at 2.55 pence each.
In addition, the technology-focused merchant bank has extended its bank facility to GBP6 million.
MXC will use the funds from both to invest in near-term opportunities, it said.
"In our interims announced three weeks ago, I expressed confidence in the company's prospects following an encouraging first half of the year. I also referred to an exciting pipeline of opportunity. This financing allows us to execute some of the opportunities we have identified. I look forward to updating shareholders shortly," Chairman Peter Rigg said in a statement.
Shares in MXC were trading down 2.8% at 2.62 pence on Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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Related Shares:
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