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1pm announces placing, open offer

By BFN News | 09:30 AM | Thursday 18 May, 2017


1pm has announced a placing and open offer for up to £13.0m, via the issue of up to 28.86m new shares at 45p each, the proceeds being used in part to satisfy the £5,25n cash consideration for the purchase of Tracx Finance Ltd. The remaining net proceeds would be used to finance the initial consideration for a further possible acquisition and to strengthen the company's balance sheet. Tracx Finance wholly owned Gener8 Finance Ltd, a specialist invoice finance provider to SMEs. "The remaining net proceeds will be used to finance the initial consideration for a further Possible Acquisition and to strengthen the Company's balance sheet," the company said. At 9:30am: (LON:OPM) 1pm PLC share price was -5p at 50.5p Story provided by StockMarketWire.com

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