18th Mar 2014 11:57
LONDON (Alliance News) - Proactis Holdings PLC Tuesday said it has raised GBP2.2 million before expenses by issuing 4.4 million shares in order to support further acquisitions and to give it working capital.
Proactis said it is evaluating a number of target acquisitions but no terms have been agreed.
Proactis said there can be no certainty of a transaction at this stage.
The shares were sold to new and existing shareholders at 50 pence each and are expected to begin trading on AIM on March 21.
"We are delighted to have completed this placing and we were encouraged by the demand for the group's stock in the market from new and existing institutions. The additional capital will enable the group to move forward decisively with the M&A element of its growth strategy and we look forward to deploying this capital efficiently," Rod Jones, Chief executive, said in a statement.
Proactis shares were Tuesday quoted at 55.00 pence, down 0.5%.
By Samuel Agini; [email protected]; @samuelagini
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