LONDON (Alliance News) - Polemos PLC said Friday it raised GBP711,420 through the issue of 71.1 million shares through an open offer.
The investment firm received valid acceptance with respect to 43.3 million shares from qualifying shareholders, raising GBP432,888 at the open offer price of 1.00 pence per share.
A further 27.9 million shares - raising GBP278,533 - were issued to shareholders as part of their excess applications under the offer.
The shares are expected to be admitted to trading on May 21. Shares in Polemos closed 2.6% higher at 0.018 pence on Friday.
In mid April, Polemos proposed to consolidate its shares so that for every 100 shares currently in issue investors will have one new share. The new shares will be issued after the consolidation is completed.
