News Soon ?5 Dec 2013 16:17
Allenby Capital, together with the Company, raised £3.2 million in an over-subscribed fundraise, of which £2.45 million was raised as new equity for the Company. The net proceeds of the Placing, along with existing cash resources, will be used by the Company for business expansion, in particular, to launch the Group's services in the UK and Continental Europe. In order to achieve this strategy, the Company will initially focus on content acquisition, research and development, establishing local and regional distribution hubs, sales and marketing and the efficient use of working capital to launch new services and grow organically and by acquisition.