News blog
Southern Bear
- BY: Andrew Hore |
- POSTED: 15/09/2009 |
Southern Bear has raised a further £250,000 for working capital and won additional business with eaga.
The engineer and support services provider has been a supplier of energy efficiency company eaga since 2005 and has completed £14m of work on its behalf. The new contract widens the geographic area covered and will significantly increase revenues. The contract is initially for one with options to extend it to four years.
eaga holds the contract for the £1.5 billion Warm Front programme in England, which helps people to make their homes more fuel efficient.
Southern Bear raised £250,000 at 1.8p a share. This follows the £250,000 raised at 1.75p a share in August.
The share price recovered 0.25p to 2.25p, which values Southern Bear at £14.1m.
Southern Bear appointed Astaire’s subsidiary Dowgate as sole broker at the end of August. It dropped SVS as joint broker.
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