News blog

Plant Impact

• BY: Andrew Hore |
• POSTED: 07/12/2012 |

Crop productivity improvement products developer Plant Impact has raised £1.26m at 14p a share and existing shareholders are being given the chance to particpate in the fundraising through an open offer.

A one-for-ten open offer at 14p a share will raise up to £706,000 and shareholders can apply for more than their entitlement. The closing date is 4 January.

The cash will be used to recruit staff to support product launches and establish a marketing team. It will also help to fund R&D.

Plant Impact expects to generate initial sales from new markets next year. The initial focus is horticultural and fruit crops in the UK and Europe. There are plans to find a strategic partner to launch products aimed at soya farmers in Brazil.

At 14.25p a share, the existing share capital is valued at £7.19m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf