Boston International Holdings PLC - special purpose acquisition company - Conditionally raises GBP334,890. Adds that it has recently come to attention of the board that the value of company's net assets is less than half of its called-up share capital, and that is deemed to be a 'serious loss of capital' within the meaning of section 656 of the Companies Act 2006. Is required to call a general meeting to consider if any measures should be taken to deal with situation. "Whilst the placing, which will raise GBP187,033 (before expenses) for the company, and the receipt of the GBP147,857 subscription monies for the New Convertible Loan Notes will not result in the Company's net assets equalling or exceeding half of its called-up share capital, it will go some way to addressing the position," it says.
Current stock price: 0.92 pence, down 7.8% on Friday
12-month change: down 71%
By Lucy Heming;Â lucyheming@alliancenews.com
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Boston Int (BIH)