News blog
Pan Pacific Aggregates
- BY: Andrew Hore |
- POSTED: 23/07/2008 |
Pan Pacific Aggregates is raising cash through a placing at less than one-third of yesterday’s share price.
The Canada-based aggregates quarries operator is raising £750,000 at 1p a share via a placing by VSA Capital – a business where Pan Pacific’s chief executive is managing director.
The shares slumped 0.875p to 2.25p on the news. The low for the past 12 months is 1.25p.
Recent acquisition, Pumptown Quarry, sold more than 28,000 tonnes of aggregate in June a 70% increase on the previous month. Some of the cash raised will go on the integration of this business.
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