4th Mar 2016 15:15
LONDON (Alliance News) - Stanley Gibbons Group PLC Friday said it has seen an "encouraging" level of interest from existing shareholders in its ongoing equity fundraising.
Last month, the collectibles trader issued a profit warning saying it expects to post an adjusted pretax loss of GBP1.0 million to GBP2.0 million for the financial year to the end of March, swung from a GBP5.0 million profit a year earlier.
At that time, Stanley Gibbons said it was in the process of raising around GBP10.0 million to back a restructuring of its business to cut costs.
The company expects to be in a position to make a further announcement on this fundraising in the near future, it said Friday.
Shares in Stanley Gibbons were down 3.5% at 39.56 pence Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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