29th Sep 2015 08:49
LONDON (Alliance News) - Manufacturing and services company Redhall Group PLC on Tuesday said it raised GBP5.5 million from its placing and open offer announced earlier this month.
Redhall said it has raised GBP4.8 million of the funding via the placing and GBP700,000 from the open offer, with a total of 109.5 million shares issued at 5.0 pence per share. Shares in Redhall were up 2.8% to 5.78 pence on Tuesday.
"We are delighted to have received support from both existing and new investors for the proposals. We are building a strong foundation for future growth in shareholder value and, with a significantly strengthened balance sheet, we are now well placed to take advantage of the substantial opportunities in our marketplace," said Phil Brierley, Redhall's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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