News blog
ClearStream Technologies
- BY: Andrew Hore |
- POSTED: 18/08/2008 |
ClearStream Technologies is raising £425,000 at 20p a share.
ClearStream manufactures balloon catheters and stents used for heart procedures and for minimally invasive surgery to clear clogged arteries. The cash will be spent on additional capital equipment to increase production capacity, higher stock levels and financing a trial for the DESS Intrepide drug eluting stent system.
There was also an issue of shares in lieu of director bonuses or working capital loans from directors. That is equivalent to a further £700,000.
The directors also subscribed for more than two-fifths of the placing shares. Chairman Mike Love has added 1m shares in total to his holding, which takes it to 5.7%. Chief executive Andrew Jones has increased his stake to 6.3%.
ClearStream raised £920,000 from a placing last August at 40p a share.
ClearStream shares dipped 0.75p to 22.5p. It is expected to report a loss for the year to July 2008 but move into profit in 2008-09.
© 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 This material may not be published, broadcast, rewritten or redistributed.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
|