30th Apr 2015 17:34
LONDON (Alliance News) - Rightster Group PLC Thursday said it wants to raise about GBP5 million through a share placing to fund itself through to cashflow breakeven, as it said it had made an encouraging start to 2015.
The cloud-based global video distribution and monetisation network said it will conduct the proposed placing at the current mid-market price of 18 pence.
It said it estimates growth in average monthly video views at 1.6 billion during the first quarter, and it had surpassed 72 million subscribers and reached 124 million unique users across its YouTube Network by the end of the quarter, up 125% on a year earlier.
It said that in light of its placing proposal, it will now publish its 2014 results and the details of the placing in early May.
Rightster shares closed up 5.6% at 19.00 pence Thursday.
By Steve McGrath; [email protected]; @stevemcgrath1
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