EU Supply Raises Funds Via Placing And Convertible Notes Issue (ALLISS)

LONDON (Alliance News) - EU Supply PLC on Thursday said it has raised new funding to back its expansion plans via a share placing and convertible notes issue.

The e-commerce company said it will place 5.2 million shares at 8.0 pence per share to raise GBP412,000 and said it has raised another GBP941,000 via the issue of the first tranche of a convertible notes issue to institutional and other investors.

Shares in the company were untraded Thursday, having last traded at 8.50 pence.

It said it will use the funds for working capital purposes and to back the expansion of its services.

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

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