LONDON (Alliance News) - Shares in Vitesse Media PLC were trading up 32% Tuesday as it confirmed that second admission and completion of its Tranche Two placing is expected to take place Friday.
In January, Vitesse said that it had raised GBP265,000 through the placing of 12.0 million shares at a price of 2.2 pence, in order to support the development of its new small- and medium-sized enterprise crowd-funding platform.
Vitesse also secured a loan of GBP80,000 from its investors, with a 7% interest rate and three-year term. It said in January that the new investors have the right to appoint a non-executive director to its board.
Shares in Vitesse were trading up 32% at 7.74 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.