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Hardide conditionally raises approx £3.6 million by Placing Shares 1.5 per Share

Hardide conditionally raises approx £3.6 million by Placing Shares 1.5 per Share

Fri 8 Feb 2019 08:04 by about : operational news - 0 Comments - 283 words


Hardide plc (AIM: HDD), the developer and provider of advanced surface coating technology, is pleased to announce that it has conditionally raised approximately £3.6 million by the issue of the Placing Shares and the Subscription Shares at a price of 1.5 pence per Fundraising Share (the "Issue Price")* principally to fund further expansion of the Company's UK operations (the "Fundraising"). The Company also announces that it proposes to undertake a share capital consolidation such that every 40 Ordinary Shares in issue will be consolidated into 1 New Ordinary Share (the "Share Capital Consolidation"). Further information on the Fundraising and Share Capital Consolidation can be found below.

The Fundraising and Share Capital Consolidation are subject, amongst other things, to the applicable shareholder approvals being obtained at the Annual General Meeting ("AGM") of the Company to be held at the offices of finnCap Ltd at 60 New Broad Street, London EC2M 1JJ commencing at 11.30 a.m. on 4 March 2019.

*For reference, the Issue Price will be 60 pence in the event the Share Capital Consolidation is approved at the AGM

These articles are summaries / highlights and dont always include all financial news updates. Check at company website INVESTORS INFORMATION for full published results.

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