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Clarity Commerce Solutions
- BY: Andrew Hore |
- POSTED: 05/02/2008 |
Clarity Commerce Solutions is raising £1.78m through a placing and open offer at 25p a share.
The hospitality and retail software company is offering two new shares for every seven existing shares, which are currently trading at 26.5p each. It will raise £1.63m after expenses. The latest payment date is 27 February.
Southwind, a trust set up by Bob Morton, is underwriting £1.5m of the open offer. It will receive a fee of £45,000. The money will help to repay the £600,000 Clarity has borrowed from Southwind.
The rest of the cash will be used for additional working capital. Revenues are improving and that should help reduce the cumulative losses in the current financial year.
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