Remote Monitored Systems PLC - data collection and surveying firm based in London - Conditionally raises gross proceeds of GBP5 million through an oversubscribed placing of 400 million new ordinary shares at placing price of 1.25 pence each. Says for each placing share subscribed for in the placing participating investors will receive non-transferable warrant to subscribe for an ordinary share with an exercise period of 3 months from issuance and exercisable at a price of 2.0 pence each. The issue of the placing warrants is subject to the approval of certain shareholder resolutions at a general meeting expected in mid January.
Current stock price: 1.36 pence
Year-to-date change: up sharply from 0.33p
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.