APC Technology Slightly Upsizes Fundraising From Placing (ALLISS)

LONDON (Alliance News) - APC Technology Group PLC on Wednesday said it has raised GBP1.5 million via a share placing, slightly higher than the target it announced on Tuesday.

APC said it has upsized the fundraising by GBP50,000 to GBP1.5 million via the issue of a further 113,636 shares at 22 pence per share. Shares in the company closed at 24.25 pence on Tuesday.

The 113,636 shares issued are in addition to the 6.6 million it issued on Tuesday in order to raise GBP1.45 million.

The funds are being used for for additional working capital and to support further contract roll outs, following the recent recommencement of a contract with Wm Morrison Supermarkets PLC.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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