Tekcapital PLC - London-based intellectual property investment company - Portfolio company MicroSalt PLC plans retail offer via PrimaryBid. Explains offer price per share is to be decided by the book-building process in a separate institutional offer. Sets minimum application amount of GBP500. Offer comes as MicroSalt plans admission to trading on AIM. States aggregate value of the new shares available for subscription will not exceed GBP2.5 million. Admission is expected to take place and dealings in shares to commence on October 18.
Proceeds from the institutional offer and PrimaryBid offer will mainly be used to support the ongoing development of MicroSalt applications, to increase its manufacturing capability and production volumes, R&D for product line extensions and for general working capital purposes.
Current stock price: 12.98 pence, up 3.8%
12-month change: down 32%
By Jeremy Cutler, Alliance News reporter
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TekCapital (TEK)