News blog
MediaZest
- BY: Andrew Hore |
- POSTED: 02/03/2011 |
Display marketing business MediaZest has raised £440,000 at 0.55p a share – a 45% discount to the previous day’s close.
At 0.72p a share, down 0.28p, MediaZest is valued at £1.22m. That is before the new shares, which account for 32.3% of the enlarged share capital, are issued.
The cash is needed for working capital and increased spending on marketing.
City and Claremont Capital Assets wants to convert a loan of £90,000 into shares at 0.55p each. A general meeting will be required to allot the shares. City and Claremont owns 39.7m shares in MediaZest and that was equivalent to 23.7% of the share capital prior to the latest placing. The conversion of the loan will limit the dilution of City and Claremont’s stake by the placing.
MediaZest generated revenues of £1.08m and lost £109,000 in the six months to September 2010. Net debt was £417,000 at that time. MediaZest has been hit by lower government spending on its educational services. During the period, the company supplied touchscreens for Microsoft to promote Windows 7.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|