All Active Asset Capital raises £11.5m for further investments
By Josh White
Date: Friday 23 Oct 2020
(Sharecast News) - All Active Asset Capital (AAA) has conditionally raised £11.5m through a placing of 143.75 million new ordinary shares at a price of 8p, it announced on Friday.
In addition, 71.875 million warrants to subscribe for new shares would be granted to subscribers on a one warrant for two placing shares basis.
It said the placing warrants would be exercisable at 15p per share for 18 months from admission.
AAA said it would use the net proceeds to make further investments in accordance with its stated investing policy.
"We are pleased to have received such significant commitments from important new investors," said executive director Rodger Sargent.
"We are currently considering various exciting business opportunities within the technology remit of AAA's investing policy.
"The completion of today's fundraise, combined with the recent exercise of a large number of outstanding warrants, and our minimal operating costs, will very materially strengthen the company's capital base."
At 1213 BST, shares in All Active Asset Capital were up 6.13% at 8.65p.
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