SigmaRoc PLC - London-based quarried materials company - Proposes placing and retail offer to raise up to GBP30 million via issue of up to 55.6 million new shares at an issue price of 54 pence per share. Total value of retail offer shares available for subscription will not exceed GBP1 million, allowing retail investors the opportunity to participate in the fundraising. Intends for "certain directors and senior management" to participate in the placing up to an aggregate value of around GBP246,000. The fundraising shares represent around 8.7% of existing share capital.
Says proceeds fund identified strategic acquisitions and organic growth investment projects. Potential acquisition targets include 10 companies for a total GBP39 million and a further "four organic growth and carbon footprint reduction projects" for a total GBP8 million.
Current stock price: 53.00p, down 1.1%
12-month change: down 36%
By Greg Rosenvinge, Alliance News reporter
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Sigmaroc. (SRC)