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Transense Technologies

  • BY: Andrew Hore |
  • POSTED: 21/11/2007 |

Transense Technologies has raised £240,000 in cash but it needs a lot more.

Peter Lobbenberg, an existing shareholder has subscribed for shares at 23p each. That takes his stake to 4.62%.

Lobbenberg and other shareholders have indicated that they are willing to subscribe for £3m worth of shares at a minimum price of 23p a share. The board says that the “details have not yet been discussed with the company’s financial advisers”. Shareholder approval will be required.

If the cash isn’t raised by the end of February 2008 Transense may run out of money. The shares slipped 3.75p to 24.5p.

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