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Corsie Group

  • BY: Andrew Hore |
  • POSTED: 13/12/2007 |

Bowling equipment and health products distributor Corsie is raising £671,000 via a share placing at 30p a share. 

That is above the market price of the shares. The shares rose 3.25p to 26.5p.

Former Scotland Rugby Union captain Jim Aitken has been appointed as a non-executive director and is subscribing for £450,000 of these shares. He is also paying £350,000 for Corsie’s purchase option over its warehouse at Haddington. This cash should be received before the end of January.

Corsie has arranged debt facilities of £2.15m and an overdraft facility of £200,000. At the end of June net debt was £786,000.

Corsie has obtained a three year exclusive agreement from Sovereign Laboratories to distribute the TRULAX range of products and the ViraloxÒ antiviral product.

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