8th May 2015 06:52
LONDON (Alliance News) - Leather goods company Pittards PLC Friday said it has raised GBP5.8 million via a share issue to back the acquisition of the freehold of its Yeovil premises.
Pittards has issued 4 million shares at 120 pence a share in one tranche of the placing, with a further 842,003 shares issued at the same price to raise a further GBP1 million. The placing price is a 12.4% discount to its mid-market price on Thursday.
The money will be used to back the acquisition of its Yeovil premises for GBP3.6 million in cash, plus working capital.
By Sam Unsted; [email protected]; @SamUAtAlliance
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