(Alliance News) - Bermele PLC on Wednesday said it will raise GBP200,000 in gross proceeds via a share placing to strengthen the company's balance sheet in advance of an acquisition.
The company, which was formed to acquire a business or company in the pharmaceutical and biotechnology sector, will issue 20 million new ordinary shares at 1 pence per share. Net proceeds from the placing are expected to total GBP190,000.
Bermele also said that it intends to expand its investment criteria as it has reviewed a number of potential acquisition opportunities, some of which are outside the pharmaceutical and biotechnology sectors, but which the directors believe to be appropriate to consider.
Bermele shares on Wednesday closed at 1.12 pence each in London.
By Tapan Panchal; tapanpanchal@alliancenews.com
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