28th May 2015 07:13
LONDON (Alliance News) - Sareum Holdings PLC shares fell in early trade on Thursday after the company said it has raised GBP1.4 million in a discounted share placing.
Sareum shares were down 19% to 0.2899 pence after it said it had raised the funding via the issue of 577.4 million shares at 0.25 pence per share.
The net proceeds are to be used to back its drug development programmes and for working capital, Sareum said.
The issue was run by Hybridian LLP and WH Ireland Ltd.
By Sam Unsted; [email protected]; @SamUAtAlliance
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