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The People's Operator proposes £3.2m fundraising

By BFN News | 08:09 AM | Thursday 07 December, 2017

The People's Operator, a commercial mobile virtual network operator, has proposed a fundraising to raise gross proceeds of up to £3.2 million. Of the proposed fundraising, the company has currently conditionally procured subscribers for 2,788,000,000 new ordinary shares to raise gross proceeds of approximately £2.788 million, with an associated conditional issue of 1,394,000,000 warrants over ordinary shares. The company will use the net proceeds of the subscription to settle outstanding liabilities totalling approximately £500,000 and to implement, in tandem with its media partner 360i, a new marketing strategy. It said if the subscription does not proceed then the board would have to urgently seek alternative funding. The company announced on 20 September 2017 that it was seeking to raise new funds. Trading is in line with expectations and the company is on target for overall revenue growth during H2 2017 to show an increase of 19% over H1 2017. At 8:09am: (LON:TPOP) Peoples Operator Plc The share price was -0.38p at 0.15p Story provided by

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