13th Mar 2015 16:54
LONDON (Alliance News) - Venn Life Sciences Holdings PLC said Friday it has raised GBP2 million through the placing of 10.5 million new shares at a price of 19 pence each, which it will use for working capital and to support its acquisition policy "where appropriate".
Shares in Venn closed down 3.2% at 22.50 pence Friday.
Zeus Capital acted as broker in the placing.
Venn added that it has continued to trade in line with its expectations since its trading statement in December. At that time the company had said it expected to report full-year revenue for 2014 of at least double the EUR2.0 million it posted in 2013, citing a strong close to 2014 with November seeing a billing month in excess of EUR900,000.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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