Primorus Investments PLC - London-based investment firm focused on small and mid cap firms in financial services, technology and natural resources - Invests GBP250,000 into Interpac Ltd, a company founded to create a new corrugation process for cardboard manufacturing.
Primorus will subscribe for 42,375 shares at a price of GBP5.85 each, equating to a 4.0% shareholding.
Funds will go towards completing the manufacture of Interpac's first two production units, which includes build costs and one-off design costs to finalise the first commercial units.
Current stock price: 2.60 pence, down 3.7% on Tuesday
12-month change: down 36%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Primorus Inv. (PRIM)