News blog
Asia Digital Holdings
- BY: Andrew Hore |
- POSTED: 30/10/2009 |
Asia Digital Holdings is raising up to £1.275m via a placing at 0.5p a share.
The Asia-focused online advertising and marketing services provider will use the cash to pay creditors and for additional working capital. There was £674,000 of cash in the bank at the end of June 2009 and this was expected to increase to £800,000 by the end of 2009. The additional cash will help the business to grow.
There were current liabilities of £7.2m and current assets, including cash, of £4.78m at the end of June 2009. The increase in creditors more than halved the cash outflow to £321,000 in the first half of 2009.
Back in September, Asia Digital was on course to move into monthly profit before the end of 2009.
The Asia Digital share price is 0.9p (a bid/offer spread of 0.8p/1p), down from 1.5p at the time of the interims. Asia Digital is valued at £4.1m.
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