Rosslyn raises £0.25m through retail offer

11th Oct 2024 14:41

(Sharecast News) - Rosslyn Data Technologies announced on Friday that it had successfully raised £0.25m through an oversubscribed retail offer, issuing five million shares at 5p each.

The AIM-traded cloud-based enterprise data analytics provider said it gave allocation preference to existing shareholders.

It explained that the retail offer complemented a broader fundraising initiative, which included the issue of 32.72 million placing shares and 13.33 million conversion shares, all conditional on the approval of resolutions at a general meeting on 25 October.

A total of 68.7 million new shares would be admitted to trading on AIM, expected on 28 October.

That would include the newly-issued shares from the placing, retail offer, and conversion, as well as shares issued following the company's capital reorganisation.

Additionally, the firm said non-executive chairman James Appleby had indicated his intention to subscribe for 5.28 million new shares at the issue price, contributing £0.26m, following the publication of the company's 2024 results.

A separate application would be made for those shares to be listed on AIM.

At 1330 BST, shares in Rosslyn Data Technologies were down 5.91% at 6.02p.

Reporting by Josh White for Sharecast.com.