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Actual Experience £18m fundraising

28 February 2017 09:52

Actual Experience has announced a proposed fundraising of £18m through a conditional placing of 7,200,000 shares at £2.50 apiece.

The placing is expected to raise at least £17.5m, before expenses, for the company and up to £500k, gross, for the selling shareholders. The placing is conditional upon the company obtaining approval from its shareholders to disapply statutory pre-emption rights and to grant the board authority to allot the new ordinary shares.

The proceeds payable to the company will be used to progress the group's technology development, expand sales and support capabilities and further strengthen the balance sheet.

At 9:52am: (LON:ACT) Actual Experience Plc share price was -10p at 267.5p

Story provided by StockMarketWire.com

Related Company: ACT

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