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WFCA

  • BY: Andrew Hore |
  • POSTED: 20/05/2009 |

Advertising and marketing company WFCA intends to raise £882,000 via a placing at 2p a share.

That is a big discount to the current market price of 5p a share, which values WFCA at £7.86m. The cash is needed for working capital.

The £500,000 of loan notes issued in April 2009 will be converted into shares at 2p each. The £1m of loan notes issued in April 2008 will be swapped for loan notes convertible at 3p a share.

The deferred consideration for the original acquisition of WFCA will be satisfied by the issue of 8.7m shares at a notional price of 3p each. 

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