Malvern (AIM: MLVN), the global learning and skills development partner, is pleased to announce it is undertaking an unconditional placing of up to 13,750,000 new ordinary shares of 1 pence each (the “New Ordinary Shares”) to raise approximately £550,000 (the “Placing”).
Details of the Placing
The Company is carrying out a fundraising to raise approximately £550,000, before expenses, via an unconditional placing of up to 13,750,000 New Ordinary Shares at a price of 4 pence per share (the “Placing Price”). It is intended that the net proceeds of the Placing will be used predominantly to provide additional working capital for the Company and its subsidiary undertakings (the “Group”).
The Placing is being conducted through an accelerated bookbuild process (the “Bookbuild”), which will be launched immediately following this Announcement.
WH Ireland Limited is acting as broker in relation to the Placing. A placing agreement has been entered into between the Company and WH Ireland in connection with the Placing.