WeCap PLC - investor in social commerce, life sciences and natural resources sectors, formerly known as IamFire - Raises GBP1.0 million from placing and subscription of 66.7 million shares at 1.5 pence each. The placing is conducted by Tennyson Securities. It follows the company's annual general meeting on Monday, at which shareholders approved the company's name change to WeCap. "The directors believe that the name change will better reflect the essence and strategy of the company which is, in effect, raising capital and providing support for its investee companies," it had said late last month in announcing the change.
Current stock price: 1.50p, untraded on Aquis Stock Exchange in London on Wednesday, for GBP5.2 million market capitalisation
12-month change: down 39%
By Tom Waite, Alliance News editor
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