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Pelatro raises new funds for sales, marketing and working capital

The fundraising is conditional on a general meeting to be held on August 20

Pelatro PLC -

Pelatro PLC (LON:PTRO), the customer engagement software specialist, is raising £2.1mln through a placing and subscription of shares at 47p each.

The issue price equates to a 12.1% discount to the closing mid-market price of 53.5p on August 3, 2020.

The proceeds will be used to strengthen the sales team in both existing emerging and new developed markets and for marketing at various industry conferences and events to broaden Pelatro's brand recognition and network.

It will also provide working capital for Managed Services, which the directors believe will enable the company to tender for larger contracts.

Quick facts: Pelatro PLC

Price: 35.3917 GBX

AIM:PTRO
Market: AIM
Market Cap: £13.11 m
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