(Alliance News) - All Active Asset Capital Ltd on Wednesday said that will raise GBP200,000 in gross proceeds via a proposed placing of 200 million new shares at 0.1 pence each.
The placing is being undertaken in two tranches and has been arranged by the company's joint broker Peterhouse Capital.
The company has raised GBP74,785 using the authority granted to the board to allot and issue up to 74.8 million shares. A further GBP125,215 will be raised through the proposed issue of 125.2 million shares, which is conditional on shareholder approval.
Net proceeds of the placing will be used to make the company's first investment following the change made to its investing policy in 2019 and to provide additional working capital. In October, the company widened the geographic focus of its investing policy so that it includes investing in the European region.
Shares in the investment company closed at 0.35 pence each, down 13%.
By Tapan Panchal; tapanpanchal@alliancenews.com
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