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Placing and open offer brings in £3.45mln for Directa Plus

Directa Plus raised £3.15mln through a share placing, while the remaining £0.30mln came via the open offer

money pot growing
The group added that it would look the raise a further £1mln through the open offer

Directa Plus PLC (LON:DCTA) has raised £3.45mln through a share placing and open offer to fund an investment drive to grow in its markets.

The firm, which develops graphene-based products, said last month that the placing had raised around £3.15mln through the issue of 6.3mln new shares at 50p each.

READ: Directa Plus and Ambienthesis to test waste liquid treatments using graphene

Directa confirmed today (Monday) that it has also raised a further £0.30mln through an open offer at the same price, with chief executive Giulio Cesareo and chairman Sir Peter Middleton among the directors taking part.

The placing shares were admitted for trading on AIM on 17 December, while the open offer shares will be admitted on Wednesday (9 January).

Directa previously said the proceeds would be used to “exploit commercial opportunities across a developing pipeline” as well as build its sales & marketing capabilities, develop higher performing products, improve industrial layout to drive industrial margin, and maintain a competitive advantage and barriers to entry in the sector.

The fundraise follows news at the end of November that the company had secured a collaboration agreement with Ambienthesis, a Milan exchange-listed reclamation and hazardous waste disposal group, that would see its G+ enhanced Grafysorber adsorbent tested as a cleaning agent for soil, groundwater and industrial waste.

In afternoon trading on Wednesday, Directa Plus shares were down 5% to 45p.

-- Updates with result of placing, open offer and share price --

Quick facts: Directa Plus PLC

Price: 74 GBX

AIM:DCTA
Market: AIM
Market Cap: £45.27 m
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