28th Feb 2014 11:03
LONDON (Alliance News) - Octagonal PLC Friday said it has raised GBP550,000 through a share subscription with existing shareholders and new investors, as it looks to strengthen its balance sheet and "implement" acquisition and investment opportunities.
In a statement, Octagonal said the 183.3 million new shares were sold at 0.30 pence each. The company has applied for them to begin trading on AIM on Friday next week.
The new shares will make up 25.57% of Octagonal's share capital in issue.
Octagonal shares were Friday quoted down 18% at 0.350 pence, making it the second biggest faller on AIM.
By Samuel Agini; [email protected]; @samuelagini
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