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Milestone issues shares at deep discount

Milestone received 0.3p per newly issued share, receiving £105k

Pounds and pence
The shares fell 12.7%

Shares in Milestone Group PLC (LON:MSG) lost around one-eighth of their value after the company lobbed out shares, raising just over a hundred grand.

The media company received £75,000 after placing shares at 1.5p a pop – the same price it had previously, and unsuccessfully, tried to place them at last year.

The same company that took 5mln shares at 1.5p also subscribed for 30mln shares at 0.1p each – the lowest price at which the company can issue new shares – yielding a further £30,000 for Milestone.

The net result is Milestone effectively received 0.3p a share for the newly issued shares.

The shares fell from last night’s close of 0.355p to 0.31p.

Quick facts: Milestone Group PLC

Price: - -

AIM:MSG
Market: AIM
Market Cap: -
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