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Water Hall Group

  • BY: Andrew Hore |
  • POSTED: 27/09/2012 |

Water Hall Group is raising up to £283,000 via a one-for-five open offer at 2.5p a share on top of the previously announced £750,000 coming from a placing and convertible loan note issue.

This cash could help to finance the potential bid for CCTV technology company Petards, where Water Hall already owns 29.99%. Prior to the open offer, Water Hall has £1.25m in the bank, a £150,000 payment due from the purchaser of its quarry business and £325,000 of Lloyds Banking shares.

At 1.75p a share, down 0.12p, Water Hall is currently valued at £1m. This is a 30% discount to the placing and open offer price. Shareholders can apply for more than their entitlement but there is a chance that the full amount will not be raised from the open offer.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFSeptember2012_36.pdf

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