LONDON (Alliance News) - Pires Investment PLC on Monday said it has raised GBP150,000 through the placing of 5 million shares at 3 pence each, to be put towards working capital and investments.
Shares in Pires were flat at 3.00p Monday.
The company said the shares had been placed by its broker, Peterhouse Corporate Finance Ltd, to meet further investor demand. Buyers will receive one warrant for every two shares subscribed, with an exercise price of 4.25p.
Paternoster Resources PLC said it had subscribed for 3.3 million shares in the placing, making up GBP100,000 or two-thirds of the total raised.
"This subscription further increases Paternoster's investment in an AIM-listed company with a cash balance at an attractive valuation," said Paternoster Chairman Nicholas Lee in a statement.
Shares in Paternoster were up 2.0% at 0.204p Monday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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