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LONDON (Alliance News) - CEPS PLC on Tuesday said it has raised GBP1.25 million via a share placing to repay a loan taken out to back the acquisition of Aford Awards Ltd.
CEPS, which has four businesses comprising body armour and matting manufacturer Davies Odell, textile importer Friedmand's, direct mail business Sunline, and trophies and medals maker Aford Awards, said it has placed 4.2 million shares at 30 pence per share. Its shares closed at 29.00 pence on Monday.
The funds will be used to repay a GBP0.8 million loan taken out to back the Aford Awards deal and for general working capital purposes.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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