Belluscura launches £0.5m retail offer alongside £4m placing
By Josh White
Date: Friday 07 Feb 2025
(Sharecast News) - Belluscura launched a retail share offer through the Winterflood Retail Access Platform (WRAP) on Friday, to raise up to £0.5m for general working capital and to strengthen the company's balance sheet.
The AIM-traded firm said the offer, priced at 2p per share, represented a 69.2% discount to its closing price on 5 February, and would run alongside a £4m placing.
It said the offer was conditional on shareholder approval at a general meeting scheduled for 28 February, as well as the subsequent admission of the new shares to AIM on 4 March.
While separate from the placing, completion of the retail offer depended on the placing being finalised.
The board said the offer was open to eligible UK retail investors, who would need to participate via an approved broker or wealth manager.
It said it expected the offer to close at 1400 GMT on 10 February, with results announced the same day.
Belluscura said it had applied for advanced assurance from HMRC regarding the eligibility of the shares for Enterprise Investment Scheme (EIS) relief, but had not yet received confirmation.
As such, it advised potential investors to seek independent tax advice due to the complexities of EIS and Venture Capital Trust (VCT) qualification.
The newly-issued shares would be fully paid and entitled to future dividends.
At 0944 GMT, shares in Belluscura were down 69.23% at 2p.
Reporting by Josh White for Sharecast.com.
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