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(Alliance News) - Dukemount Capital PLC, a property management and long dated income provider, on Wednesday said it has raised GBP255,034 through share placing to position the company for growth within its expanded focus of education and healthcare.
The company has placed 72.9 million new ordinary shares at 0.35 pence per share, a 22% discount to 0.45p closing price on Wednesday. Shares in the company were down 16% at 0.40p each.
Net proceeds will be used by the company to engage experienced people familiar with the property sector, particularly with large scale projects in the education and healthcare sectors, and for general working capital purposes.
Chair Geoffrey Dart said; "The talks we are having with regards to education and healthcare have confirmed there is a large appetite for project opportunities within the UK. In order to efficiently execute our plans in these discussions we need to bring in additional staff to move quickly from due diligence talks to project initiation, freeing the board to look at additional opportunities".
By Tapan Panchal; tapanpanchal@alliancenews.com
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