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PSDL gets shareholder approval for fundraising

03 March 2016 11:37

Phoenix Spree Deutschland (PSDL) has announced that, at the Extraordinary General Meeting held today, the resolutions in connection with the proposed fundraising were duly passed on a show of hands.

Background:

On 9 February 2016, the Board of Phoenix Spree Deutschland announced details of a proposed fundraising pursuant to which gross proceeds of GBP33.0 million were conditionally raised by way of a Firm Placing and additional gross proceeds of up to GBP5.0 million were available by way of an Offer for Subscription, all at 168 pence per New Share.

The Board also announced a proposed Placing Programme to enable the Company to raise capital in an efficient and cost-effective manner over the next 12 months. The Issues are conditional, upon other things, on Shareholder approval.

At 11:36am: (LON:PSDL) Phoenix Spree Deutschland share price was +0.01p at 166.88p

Story provided by StockMarketWire.com

Related Company: PSDL

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