2nd Oct 2018 09:51
LONDON (Alliance News) - Tekcapital PLC on Tuesday said it raised GBP900,000 through a share placing to fund investment in key activities and to further develop and progress with the commercialisation of its portfolio of IP technologies.
The intellectual property investment firm said it issued 11.7 million shares at a price of 7.5 pence each. The stock was untraded on Tuesday, last quoted at 8.50p per share.
finnCap Ltd is acting as the company's nominated adviser and joint broker with Novum Securities Ltd, Tekcapital said.
Following the admission, the company will have 54.4 million shares overall.
"I am pleased to announce the successful conclusion of this fundraise with support from new shareholders," said Chief Executive Cliff Gross.
"The proceeds from the placing will enable Tekcapital to continue its growth objectives and deliver further value to shareholders," added Gross.
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