LONDON (Alliance News) - Surface coating technology provider Hardide PLC said Thursday it has completed a GBP1.1 million fund raise via a share subscription.
Hardide said it had sold 134.2 million new shares at a price of 0.8 pence a share to raise funds for investment. The shares are expected to be admitted to trading on the small-cap AIM on October 5. The subscription means Hardide's total share capital will stand at 1.53 billion shares.
Hardide said it has also received assurances from Her Majesty's Revenue & Customs that the funds raised by the share issue will be eligible for Enterprise Investment Scheme and Venture Capital Trust tax relief.
Shares in Hardide were down 1.1% at 0.01p Thursday.
By Adam Clark; adamclark@alliancenews.com
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Hardide (HDD)