- PHSC plc has conditionally raised £520,000 before expenses through a placing of 2,080,000 new shares of 10p each at a price of 25p each. The Placing was oversubscribed. The pPlacing shares represent about 16% of the enlarged issued share capital.

The net proceeds of the Placing are expected to amount to £482,000 and will be used as additional working capital to fund the continued growth of the Group.

Meantime, PHSC gave a trading update. It said management accounts for the first five months of the financial year, to Aug. 30, showed sales of £3,088,000 and EBITDA of £233,300. The comparative period for last year showed sales of £1,766,000 and EBITDA of £50,700.

At 8:12am: [LON:PHSC] share price was -4p at 29p

Story provided by