By Sabela Ojea
Shares in Roquefort Investments PLC fell Tuesday after the company said the gross proceeds of its discounted share placing are intended to be used to fund the cash consideration of the acquisition of the issued share capital of Lyramid Pty Ltd.
The medical biotechnology investment company has paid an initial consideration in cash of 500,000 pounds ($660,350) and will issue five million new shares, it said.
The company raised gross proceeds of GBP3 million as it expected via the issue of 30 million shares at 10 pence a share, a 20% discount to its shares on Sept. 28.
Shares at 0827 GMT were down 1.00 pence, or 8%, at 11.50 pence.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix