LONDON (Alliance News) - Rightster Group PLC late Friday proposed raising GBP10.0 million through a heavily discounted share placing to assist in taking the company into a "more exciting and commercially efficient direction".
The company proposes placing 200.0 million new shares in the company at 5.0 pence per share - a substantial discount to the company's share price which closed at 9.50 pence per share on Thursday.
Shareholders will vote on the proposals to raise that GBP10.0 million at a general meeting on January 6.
"Richard and I joined the Board just a month ago and shared our vision for the business with existing and new institutional investors. They embraced the change and are now investing GBP10 million so Rightster can move into a more exciting and commercially efficient direction. I'm hugely excited to be leading the company in to the next stage of its growth," said Chief Executive Ashley MacKenzie.
Rightster Group shares were untraded on Friday, last trading at 9.50p.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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