LONDON (Alliance News) - Security- and risk-management consultancy Falanx Group Limited Thursday said it has conditionally raised GBP225,000 through a subscription of around 1.9 million shares.
Proceeds of the subscription will be applied to potential-acquisition due-diligence and to general working capital requirements, Falanx said
In addition to the shares, Falanx said it will issue one warrant for every two placing share subscribed, exercisable at 18 pence per warrant at any time up to three years from issue.
The subscription is conditional on admission of the subscription shares to trading on AIM.
Application has been made to AIM for the subscription shares to be admitted to trading. Admission and trading are expected to commence next Tuesday.
Following the issue of the shares, Falanx said that Simon Vaughan will hold 4.78% of the enlarged issued share capital and total voting rights.
Falanx shares were quoted at 12.40p, up 0.2%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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