VCBC.L Share News (VCBC)

LONDON (Alliance News) - Vertu Capital Ltd said Monday it has raised GBP205,000 in gross proceeds via the issue of new ordinary shares.

The company has issued 19.9 million new shares at 1.025 pence per share. The new shares will represent 16.7% of the company's issued ordinary share capital following admission.

Proceeds of the placing will be used by the company to evaluate a range of transactions primarily in financial services, but including a range of other sectors, where the board have a considerable amount of experience.

The company currently has cash of GBP450,000 and on the expected date of share admission will be GBP655,000.

Shares in the investment company were untraded at 1.15p.