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Directa Plus PLC completes fundraising as it makes 'transformational acquisition'

Between them, six directors bought £303,656 worth of shares

Directa Plus PLC -
Direct supplies graphene to various manufacturers

Directa Plus PLC (LON:DCTA) has raised gross proceeds of roughly £0.2mln through an open offer and £7.4mln through the placing and open offer, before expenses.

Between them, six directors bought £303,656 worth of shares, mostly founder and chief executive Giulio Cesareo.

The graphene specialist last month agreed to buy a majority stake in one of its oil services partners, Romanian firm Setcar, which Cesareo said was a transformational acquisition.

Total consideration for the deal is €4.1mln, with Directa Plus chipping in 51%, which is pro-rata to its stake once the acquisition completes.

Setcar specialises in oilfield contamination and has been helping Directa Plus develop its Graysorber graphene-enhanced decontamination units since 2014.

Quick facts: Directa Plus PLC

Price: 77.5 GBX

AIM:DCTA
Market: AIM
Market Cap: £47.27 m
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