Mindflair PLC - investment company focused on artificial intelligence - Raises gross proceeds of GBP730,400 through the issue of 91.3 million new shares at a price of 0.8 pence per share. The placing price represents a 30% discount to the closing mid-market price of 1.15p on December 20.
Director Nicholas Lee says: "We are pleased that we have been able to raise new funding in difficult markets in order to continue to pursue our strategy. We believe this is a very exciting time for the company and we are seeing a number of attractive investment opportunities. Furthermore, our change of name and launch of our new website now clearly reflect and highlight the current focus of the company which provides listed equity investors with exposure to a portfolio of AI technology companies."
Current stock price: 0.91 pence
12-month change: down 62%
By Holly Beveridge, Alliance News reporter
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Mindflair (MFAI)