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DDD Group shares fall as it closes in on stop-gap funding

Last updated: 08:15 06 Mar 2015 GMT, First published: 09:15 06 Mar 2015 GMT

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DDD Group (LON:DDD) dropped another 13% in early deals on Friday as it said it expects to imminently agree to a stop-gap financing deal.

The technology firm told investors it is concluding discussions over a £350,000 issue of convertible loan notes and a £570,000 share placing (for 28.5mln new shares priced at 2p).

This will give the company enough working capital until at least the end of 2015, the company added.

That assertion assumes continued demand for DDD’s 3D technologies, and a modest uptake of licensing deals for the group’s recently launched 2D products.

The 2D products - photo editing apps – are currently being evaluated by prospective customer, DDD said.

On AIM, DDD shares were down 0.25p, 13%, trading at 1.62p this morning. In the past week the tech stock has fallen some 38%.

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