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Redhall proposes fundraising to recapitalise balance sheet

Fri, 07th Mar 2014 07:38

Redhall Group has announced plans to raise 7.5m pounds to recapitalise the engineering support service company's balance sheet. The firm will place more than 19m shares of 25p in capital at a price of 39p each, representing a 39.2% interest.Redhall said the recapitalisation of the balance sheet, combined with the recent resolution of legacy issues and restructuring of the business is expected to boost opportunities in key end markets.Company directors have subscribed for 307,691 new shares in the placing, at a total price of £120,000.Chief Executive Richard Shuttleworth, said: "We are delighted by the positive response from new and existing investors to this fundraising, which has the potential to be transformational for Redhall by recapitalising our balance sheet."This fundraising will give us the opportunity to deliver our strategy, which focuses on the Company's core strengths in niche manufacturing and specialised contracting. We see significant opportunities open to us in our key markets and the company is now well positioned for future growth."RD
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7 Mar 2014 07:58

Redhall Group To Raise GBP7.5 Million In Placing To Improve Balance Sheet

LONDON (Alliance News) - Redhall Group PLC Friday said it intends to raise GBP7.5 million before expenses through a placing of 19.2 million shares at 39 pence each with new and existing institutional investors, money it will use to recapitalise its balance sheet and for general working capital.Read more

6 Feb 2014 12:55

Redhall's Revenues Drop, Losses Widen As Vivergo Dispute Resolved

LONDON (Alliance News) - Shares in Redhall Group PLC fell Thursday, after the engineering support services group reported a drop in revenues and widened its losses for the financial year ended September 30, 2013, having booked settlement charges relating to its dispute with Vivergo Fuels Ltd.

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6 Feb 2014 08:32

UK MORNING BRIEFING: Vodafone Gains, AstraZeneca Falls At Open

LONDON (Alliance News) - Vodafone has delivered results in line with expectations Thursday morning, helping to give UK share a positive start. Vodafone is up 1.4%.

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6 Feb 2014 08:31

UK MORNING BRIEFING:

LONDON (Alliance News) - Vodafone has delivered results in line with expectations Thursday morning, helping to give UK share a positive start. Vodafone is up 1.4%.

Meanwhile, AstraZeneca has opened down 2.1% after reporting lower revenue and profit

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