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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

The scientific instruments manufacturer has completed a fundraise of up to £850,000 to support its growth strategy, including working capital, product development, and pursuing new projects.

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.

GENERAL UPDATE