News blog

Sarantel Group

• BY: Andrew Hore |
• POSTED: 26/03/2013 |

Miniature antenna manufacturer Sarantel Group has called off discussions with a potential buyer of its operations and raised additional working capital.

Sarantel is raising £277,000 at 0.1p a share but it will need to raise more cash by May. Sarantel says that it intends to raise a further £4.75m at 0.1p a share and the fundraising will include an open offer to existing shareholders. At 0.11p a share, up 10%, Sarantel’s existing share capital is valued at £910,000.

The proposed placing indicates that the institutions believe that there are potential markets for Sarantel’s products but they realise it will take a long-time to realise this potential.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2013_42.pdf