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Ultrasis Signs New Financing Deal With Shareholder Paul Bell (ALLISS)

Mon, 15th Dec 2014 08:26

LONDON (Alliance News) - Ultrasis PLC shares shot up on Monday morning after the company said it has secured a refinancing deal with shareholder Paul Bell.

The company said the GBP5.05 million refinancing deal includes a GBP1.55 million cash investment in the business by Bell at 0.05 pence per share, a GBP500,000 open offer to shareholders at the same price and a GBP3 million debt facility.

Last week, Ultrasis confirmed it was in financing talks with Bell, but its shares fell after it said any equity financing would be issued at a substantial discount to its share price.

Ultrasis shares were up 21% to 0.1518 pence on Monday morning, one of the best performers in the AIM All-Share.

By Sam Unsted;; @SamUAtAlliance

Copyright 2014 Alliance News Limited. All Rights Reserved.

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