600 Group raises £1.76 million for Polish investment

The 600 Group has raised approximately £1.76 million through an institutional placing of 5,787,574 new ordinary shares.

The money raised will be used to increase capacity and production within the Group following the acquisition of its new production facility in Poland.

David Norman, CEO of the Company, said "I am delighted the funds have been raised from the placing which will allow us to increase capacity and move the business forward as markets continue to recover. I would like to thank both new and incumbent investors for their support."

The placing has been completed using a cash box structure. The placing shares equate to approximately 9.99% of the existing issued share capital of the company prior to the placing.

Application has been made to the UK Listing Authority (UKLA) and the London Stock Exchange for the placing shares to be admitted to the Official List of the UKLA and to be admitted to trading on the Main Market of the London Stock Exchange. Admission is expected to occur on 11 April 2011.

Author
Michael Richards

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