Intercede Raises GBP500,000 Through Convertible Loan Note Issue (ALLISS)

LONDON (Alliance News) - Intercede Group PLC on Friday said it has raised GBP500,000 through ...

Alliance News 25 August, 2017 | 12:04PM
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LONDON (Alliance News) - Intercede Group PLC on Friday said it has raised GBP500,000 through the issue of convertible loan notes.

The loan notes were convertible at 68.8125 pence each and increase the total raised under the convertible loan note instrument to GBP5.0 million.

"The increase in our cash reserves is beneficial as, following on from our December fundraising, we continue to enhance our sales & marketing team and capabilities to meet the exciting new opportunities we are seeing. We are pleased to welcome a major new institutional investor and believe it is a significant vote of confidence in Intercede that they have chosen to participate in the company's development," Chairman & Chief Executive Richard Parris said.

Shares in Intercede were untraded on Friday, last quoted at 52.00 pence.

By Karolina Kaminska; karolinakaminska@alliancenews.com; @KarolinaAllNews

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Intercede Group PLC 37.12 GBX -0.22 -
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