LONDON (Alliance News) - Analytics services provider Actual Experience PLC on Thursday said it has conditionally raised GBP16 million in a share placing to back the expansion of its business.
The company will issue 8.3 million new shares plus a further 157,882 to new and existing shareholders, all at 190 pence per share. Shares in the company were untraded on Thursday, having last traded at 227.00 pence.
Actual Experience said the funding will be used to establish client facing teams in Europe and North America, increase its technology development team headcount, strengthen its balance sheet and cover working capital requirements.
"The placing enables the company to significantly increase its sales teams and further enhance the technology development team as we look to capitalise on our growing pipeline and beyond," said Dave Page, Actual Experience's chief executive.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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