18th Apr 2018 18:08
LONDON (Alliance News) - Polemos PLC said on Wednesday it intends to conduct an open offer and share consolidation, subject to shareholder approval to raise GBP786,091.
Shares in the investment firm closed down 9.0% at 0.0091 pence on Wednesday.
Polemos plans to issue up to 78.6 million shares at a price of 1.0 pence per share after a share consolidation of one new share for every 100 existing shares.
Proceeds from the open offer will go towards providing additional working capital and fund costs associated with securing a certain acquisition.
Should the open offer and share consolidation go through, Polemos will have 157.2 million shares issued overall.
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