Interserve Raises Over GBP1 Million Following Warrants Exercise (ALLISS)

LONDON (Alliance News) - Interserve PLC on Thursday said it has raised GBP1.2 million following the exercise of warrants.

The support services company said it has issued 11.6 million shares on Wednesday, representing about 7.2% of its enlarged share capital.

The transaction follows the refinancing, which Interserve undertook with its lenders and bond providers in April 2018.

Under that deal, Interserve secured cash facilities of GBP196.6 million plus bonding facilities of up to GBP94.5 million, which will mature in 2021.

At the time, Interserve said it would be issuing warrants to the providers of the cash and bonding facilities to subscribe for new shares at 10.00 pence each.

Interserve shares were trading 5.3% higher on Thursday at 9.71p each.