StockMarketWire.com - Autins Group said it would seek to raise gross proceeds of not less than £3.5m through the placing of share at a discount.

The company detailed plans to place a minimum of 17,500,000 shares at a price of 20p a share, representing a discount of 29.8% to the closing price of 28.5p on 1 August 2019- the last practicable trading day prior to the release of the announcement.

The net proceeds of the placing would be used to fund automation of certain of the company's processes, to accelerate the company's development in certain market segments, and for general working capital purposes, Autins Group said.

At 9:50am: [LON:AUTG] Autins Group Plc share price was -5p at 23.5p



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