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KRM22 PLC - London-based technology and software investment company focused on risk management for capital markets - Completes subscription of 8.9 million new KRM22 shares by Trading Technologies International Inc. The subscription at 53 pence per share raises GBP4.7 million for KRM22. The new shares represent 25% of its enlarged share capital. Trading Technologies is a wholly owned subsidiary of 7Ridge Investments 3 LLP, a London-based investment company. KRM22 also enters a distribution agreement with Trading Technologies to distribute and market its risk management products.
Following the subscription, Keith Todd moves to executive chair of KRM22 from chief executive, while Stephen Casner is promoted to CEO from president. Todd also becomes CEO of Trading Technologies.
Current stock price: last closed at 41.50p on December 23
Year-to-date change: up 11% from 37.50p on January 13
By Heather Rydings; heatherrydings@alliancenews.com
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