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Windar Photonics Raises GBP34,000 Through Share Subscription

Thu, 09th Jan 2020 13:11

(Alliance News) - Windar Photonics PLC on Thursday said it has raised GBP34,375 through the subscription of 125,000 shares at 27.5 pence per share.

Windar develops technologies that optimise the energy output of wind turbines.

Shares in Denmark-based Windar were trading flat at 30.00 pence each at midday on Thursday in London.

Windar says the subscription is in addition to the equity subscription announced in December, which raise GBP1.4 million for Windar through issue of 5.1 million shares at 27.5p per share.

Windar intends to use the subscription proceeds to strengthen its balance sheet.

Following admission of the subscription shares, the company will have 50 million shares in issue

By Ife Taiwo; ifetaiwo@alliancenews.com

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