6th Nov 2019 15:24
(Alliance News) - RM Secured Direct Lending PLC said Wednesday it has extended the deadline for its proposed GBP10 million fundraising to Tuesday next week from Thursday this week.
The deadline was extended to allow further discussions with investors with the aim to secure a potential material investment in the placing.
In October the investment trust, which specialises in secured debt investments, said it would issue new shares at a price of 100 pence per share, through the company's broker N+1 Singer Advisory LLP.
The final number of the new shares will be agreed between the company and its broker following close of the placement.
Funds from the placing will go towards repaying drawn debt facilities and providing cash for potential transactions it has identified.
Shares in RM Secured Direct Lending were up 0.2% at 99.73 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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