logo-loader

React Group raises £1.25mln via placing to boost activities amid high demand for infection control

The cleaning specialist placed 83mln shares at a 1.6% discount to Tuesday’s closing price

cleaner

React Group PLC (LON:REAT) has raised £1.25mln through a share placing to boost its sales activities as its services are in high demand.

The cleaning specialist placed 83mln shares, representing 16.67% of the company, for 1.5p each, which is a 1.6% discount to Tuesday’s closing price.

READ: React Group sales climb but restructuring takes its toll

The proceeds will be used to fund growth and boost sales activities.

The AIM-listed firm said recent trading has been topping forecasts, so it expects to deliver a small operating profit for the six months to March 31.

While its regular maintenance services have remained stable during the coronavirus outbreak, there was a spike in demand for decontamination and infection control.

Shares shot up 8% to 1.65p on Wednesday at the opening bell.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Inspired Energy raises up to £35mln in placing and open offer and fully...

Inspired Energy PLC's (LON:INSE) Mark Dickinson speaks to Proactive after announcing they've raised £35mln and struck a deal to acquire the 60% of Ignite Energy that it does not already own. Dickinson says the acquisition will accelerate the group's organic growth in optimisation services. In an...

1 day, 19 hours ago

2 min read