IN BRIEF: Rosslyn Data Technologies aims to raise up to GBP1.4 million

Rosslyn Data Technologies PLC - London-based data analytics - Raises GBP1.1 million, as planned, in a placing of 36.4 million new shares at 2.0 pence each, together with the sale of GBP175,000 in 10% convertible loan notes to Hargreave Hale AIM VCT PLC and Maven Renovar VCT PLC. Rosslyn hopes to raise a further GBP250,000 from a retail offer of 12.5 million shares at the same price. The placing and retail offer, first announced late Wednesday, are both being conducted by broker Cavendish. The five-year loan notes convert into shares at conditional price points no higher than 2.0p. Rosslyn calls a general meeting for April 13 to approve the fundraise.

"We are making solid progress across our business. We have established a strong relationship with our major client that is one of the world's 10 largest companies - and which represents a substantial growth opportunity for Rosslyn," Chief Executive Officer Paul Watts says, adding: "We believe this fundraising will provide the foundations on which we can deliver sustainable growth."

In January, Rosslyn reported a pretax loss of GBP1.5 million in the six months that ended October 31, unchanged on year, as revenue rose 8.7% to GBP1.5 million from GBP1.4 million.

Current stock price: 2.20p, down 6.4% in London on Thursday and down 19% so far this week

12-month change: down 38%

By Tom Waite, Alliance News editor

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Rosslyn Data

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