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KRM22 PLC - technology and software investment company - Enters into conditional subscription agreement with 7RIDGE Investments 3 LP, which will subscribe for up to 8.9 million of KRM22's shares at a price of 53 pence each, to raise GBP4.7 million. "This is an important strategic step forward for KRM22 and will significantly improve our growth potential," says Executive Chair Keith Todd.
KRM22 also reports trading in the second half of 2021 similar to that seen in the first half. Accordingly, the company expects to achieve revenue of GBP4.3 million, annualised recurring revenue of no less than GBP4.0 million and adjusted loss before interest, tax, depreciation and amortization of GBP600,000 for the full year. This compared to revenue of GBP4.6 million, annualised recurring revenue of GBP4.3 million and adjusted Ebitda loss of GBP200,000 posted for 2020.
Current stock price: 36.50 pence, up 9.0%
Year-to-date change: unchanged
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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