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(Alliance News) - MyHealthChecked PLC on Wednesday said it has now received an assurance from UK regulators that shares to be issued are eligible for relief under the enterprise investment scheme.
Enterprise investment scheme offers tax reliefs to individual investors who buy new shares in the company.
The move follows an announcement made at the end of January that Cardiff-based MyHealthChecked intends to raise GBP3.4 million from placing and subscription of 194.3 million shares at 1.75 pence each.
At the time, the company said the funds raised will be used to extend its portfolio through new product development, while also strengthening and increasing the marketing effort to commercialise these products. The company also said it intends to develop a smartphone app to capture data and improve engagement.
On Wednesday, the AIM-listed consumer home-testing healthcare company said it will hold a shareholders meeting on February 18 to approve the fundraising.
Following the admission, the company will have 725.3 million shares overall.
The stock was trading 24% higher in London on Wednesday at 3.89 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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