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Byotrol

  • BY: Andrew Hore |
  • POSTED: 23/10/2011 |

Anti microbial hygiene technology developer Byotrol has raised £2.5m at 7.5p a share which will provide cash for the business so it can, hopefully, move towards profitability.

The fundraising follows the recent appointment of finnCap as the company’s nominated adviser and broker. The £2.3m net that Byotrol is raising will cover much of the short-term cash outflow from the business. Byotrol should have cash of £1.6m at the end of March 2012.

At 8.5p a share, Byotrol is valued at £9.42m.

Byotrol will lose money this year but finnCap forecasts a £400,000 profit for the year to Marc h 2013.

Further product launches will help Byotrol move towards profit. The timing is dependent on Byotrol’s partners. These partners include Rentokil Initial, MaBride, PZ Cussons, Boots and Marks & Spencer.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2011_25.pdf

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