21st Jul 2014 13:30
LONDON (Alliance News) - SerVision PLC said Monday that it has raised GBP624,244 through a share subscription for 12 million new shares at 5.2 pence each.
The digital security systems company said the subscription price represents a 73.3% premium to its closing mid-market price of 3.0 pence last Friday.
Shares in SerVision were trading up 33.2% at 3.99 pence Monday afternoon.
It said it will use the proceeds of the subscription to satisfy its existing order book, and for general working capital purposes.
"After a difficult 2013 I am encouraged by our prospects for the remainder of 2014 as evidenced by our existing pipeline and our recently announced distribution agreements for the distribution of our video gateway products into China, the United States and Canada," said Chief Executive Gidon Tahan in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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