7th Nov 2014 16:37
LONDON (Alliance News) - Octagonal PLC Friday said it has raised GBP500,000 through a subscription of around 167 million shares at 0.30 pence per share, representing 16.9% of the issued share capital in the company.
The net proceeds of the subscription will be used to strengthen the company's balance sheet and provide working capital to allow Octagonal to look at further acquisition and investment opportunities, it said in a statement.
Octagonal shares closed down on Friday at 0.347 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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