News blog

PeerTV

  • BY: Andrew Hore |
  • POSTED: 12/09/2011 |

Contract electronics manufacturer Digitek is reversing into fellow Israel-based company PeerTV.

Internet TV technology developer PeerTV is issuing shares to acquire Digitek, which it believes will be able to help it cut its own manufacturing costs. There have been manufacturing problems relating to PeerTV’s products and Digitek is already helping to solve these issues. PeerTV’s chief executive holds the same position at Digitek. Both businesses are losing money.

PeerTV has raised £2.38m, before expenses of £638,000, through issues of loan notes and shares and it could raise up to £3m in total. The shares are being placed at 30p each.

The shares have been suspended since 2 February and they returned from suspension around one-third lower at 37.5p a share and ended the day at 40p, which values PeerTV at £6.16m. PeerTV raised £160,000 at 45p a share when it floated in November 2010 but it had originally wanted to raise up to £5m.

Download the September 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFSeptember2011_24.pdf

© 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 This material may not be published, broadcast, rewritten or redistributed.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

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds