Digital media company Milestone (LON:MSG) is raising £50,000 through an issue of equity.
It is issuing 6.6 million shares at a penny each, raising £50,000 in cash, and it will use the proceeds to settle £16,000 worth of loans, the firm said.
Earlier this month, the group bolstered its board with the signing of Kevin Everett as a non-executive director.
Everett is currently treasurer and chairman of the Sir John Cass Foundation, one of London’s oldest education charities. During his 23-year tenure he led the restructuring of the foundation, increasing its assets from £16mln to £120mln and boosting its grant capacity and benefit from just £300,000 to more than £5mln.