- Falanx Group has conditionally raised £2,010,000 free of any issue costs and without the assistance of corporate brokers, for the subscription of 11,166,667 ordinary shares at 18p apiece. Proceeds of the subscription will be used to support the development and general working capital requirements of Falanx's international Cyber Security proposition.

In addition to the subscription shares the company will issue one warrant for every two subscription shares subscribed, exercisable at a price of 30p per ordinary share at any time up to three years from issue. A further 277,778 ordinary shares have been issued, conditional only upon admission, in consideration for services in connection with the subscription.

Story provided by