- Chapel Down has launched an open offer to raise up to £1.47m, gross, through the issue of 2,940,000 new ordinary shares at 50p apiece.

This is to give shareholders who did not take part in last week's subscription which raised £18.53m, gross, the opportunity to participate in the proposed issue of new ordinary shares on the same terms.

The net proceeds will be used for general working capital purposes and corporate M&A activity.

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