14th Feb 2024 10:29 am RNS Issue of Equity17 Mar 2024 15:38
14th Feb 2024 10:29 am RNS Issue of Equity
"Issuance of shares
Beacon Rise Holdings plc (the Company) announces that on 14 February 2024 it issued 58,333 ordinary shares of £1.00 each in the capital of the Company at a price of £1.20 per ordinary share (the Shares).
Following the issuance of the Shares, the Company's issued share capital comprises 1,180,333 ordinary shares.
The Company intends to apply for the admission of the Shares to the standard listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange.
Enquiries
For further information, please visit www.beaconrise.uk or contact Kemp House, 160 City Road, London, EC1V 2NX."
https://www.lse.co.uk/rns/BRS/issue-of-equity-kwclayl71o5likg.html
An interesting recent fundraise by BRS.
Only c. £70K. raised, but the placing price of £1.20 is a hefty premium: 50% above the current BRS s.p. of 80p, and 60% more than the s.p. on 14th. February (75p).
Moreover, BRS's loss in its 6 months to 30.9.23 was only £19,714, at which point it still had cash of £328,900, and £358,991 net & net current assets.
The market cap. at 80p is £944,266, by these types of shells can arrange RTOs at multiples of their cash.
It looks to me like this placing could well be a prelude to an imminent proposed RTO, at a BRS s.p. of at least £1.20/share, but potentially a lot higher than that.