Zenova Group PLC (AIM:ZED) raised around £260,000 of new equity, issuing new shares priced at 0.2p, and gave investors an update on its operations.
Proceeds are expected to boost working capital and support an expanding order book, it said
The fire safety company told investors it is seeing strong demand for its FX fire extinguishers in the UK, supported by regulatory changes including the phase-out of foam extinguishers containing PFAS.
Zenova said it hit an internal target (1,000 six-litre units in the first month) and highlighted noteworthy orders, including deliveries to the Czech Republic Customs Authorities.
“Achieving our first-month target of 1,000 fire extinguisher unit orders demonstrates both the quality of our products and the trust our customers place in Zenova,” said chief executive Thomas Melchior.
In London, Zenova shares were down just over 9% changing hands at 0.21p.