MJ Hudson Group PLC - London-based asset management consultancy - Raises GBP9.0 million through issue 30.0 million shares at 30 pence each. Raises additional GBP220,000 through subscription of 742,463 shares at same price. Notes Chief Executive Matthew Hudson acquires 2.8 million shares in placing, and now holds 50.5 million shares, representing a 24.8% stake.
Will have 203.4 million shares in issue following placing.
Says on Wednesday the proceeds will be used to "accelerate growth strategy and leverage significant market opportunity". This will include investment in its environmental, social & governance business, improving its net debt position, and satisfying earn-out considerations for historical acquisitions.
Current stock price: 28.47 pence, down 8.9% on Thursday
12-month change: down 47%
By Paul McGowan; paulmcgowan@alliancenews.com
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