News blog

SerVision

• BY: Andrew Hore |
• POSTED: 27/12/2012 |

Digital CCTV technology developer SerVision is raising £319,000 at 6p a share – a 37% premium to the previous closing price.

The share price rose 0.62p to 5p, which values the existing share capital at £2.56m.

Chairman and chief executive Gidon Tahan has subscribed for just over one-fifth of the shares, thereby increasing his stake in SerVision to 17.8%. The other subscribers are new investors.

SerVision requires additional working capital. Net debt was $664,000 at the end of June 2012. Since then, SerVision has signed a framework agreement with Deutsche Telekom covering hardware and services. The initial markets will be homeland security for the transport and logistics sector in Germany. A business plan is still being finalised.

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