20th Feb 2015 09:29
LONDON (Alliance News) - Tavistock Investments PLC said Friday that it has raised an additional GBP300,000 in the placing of 15 million shares at 2 pence per share.
Shares in the company are trading down 3.8% at 2.53 pence. Tavistock had previously raised GBP2.7 million in a placing at the same price earlier this month, and an additional GBP355,856 in a placing at the same price last Thursday.
Tavistock said that participating in the latest placing was three of its senior employees: Chief Executive Brian Raven, Chief Investment Officer Christopher Peel and Head of Business Development Stephen Moseley.
It will use the proceeds of the placing for general working capital, and confirmed there was no current need or intention to raise additional capital.
As a result of the placing, Moseley will now have an 11.2% interest in the company, and Raven a 5.2% interest.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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