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Harworth raises £27.8m

17 March 2017 08:08

Harworth, the brownfield regeneration and property investment specialist, has conditionally raised £27.8m,gross, through a placing of 29,226,974 new ordinary shares at 95.0p to accelerate continued expansion of its strategic land bank.

Chief executive Owen Michaelson said: "An important part of our strategy is to replenish our land and property portfolio, both by securing new recurring income streams and to grow and expand our strategic land bank, which is fundamental to us continuing to deliver value to our shareholders.

"While we have made good progress in the past two years in securing valuable acquisition opportunities, today's Placing enables us to accelerate our acquisition strategy through the funding of the purchase of, and investment in, further sites to support the long term growth prospects of the business."

At 8:08am: (LON:HWG) Harworth Group Plc share price was 0p at 96.5p

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