Metir Plc Completes £850,000 Fundraise to Support Growth
Why we think this is good
The RNS announcement details a successful fundraise of up to £850,000 for Metir Plc, which will provide additional capital to accelerate the company's growth plans. The funds will be used for various purposes, including working capital, product development, and pursuing large projects. This is a positive development that should support the company's ongoing performance, though the RNS does not meet the criteria for a 'very good' rating as it does not contain an explicit profit upgrade or trading significantly ahead of expectations statement.
Key Points
- Metir Plc raises up to £850,000 through a placing and intended director subscription
- Funds will be used to accelerate growth, including increased production, new product development, and pursuing large projects
- Company expects to have adequate working capital following the fundraise
Summary
Metir Plc has successfully completed a fundraise of up to £850,000 through a placing and intended director subscription. The net proceeds will be used to accelerate the company's growth, including funding increased production, integrating new software capabilities, developing novel products, and pursuing large water monitoring projects. The fundraise will provide the company with adequate working capital to continue operations for the foreseeable future.