View more on these topics

Praemium completes capital raising and announces rights issue plans

Praemium has completed a capital raising of £2.1m through the private placement of 24.5 million shares.

The placement, managed by Shaw Corporate Finance, sees the placement of 24.5 million shares proceed at 0.08p per share, or AUS$0.15.

The Australian technology provider, which offers a discretionary platform in the UK and its SmartFunds range, is also undertaking a £1.6m rights issue.

Shaw Corporate Finance has also been appointed to act as lead manager and underwriter of the rights issue.

Praemium chief executive Arthur Naoumidis says: “We are pleased to have received such strong support from existing and new institutional and sophisticated investors. The raising strengthens our balance sheet at a time when our business is accelerating and, we believes, poised for rapid growth.”

Naoumidis says the technology firm is experiencing “significant” interest in the UK. He adds: “We expect to be continuing to announce significant new client sign-ups in the near future.”

Praemium will be announcing the rights issue within seven day

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com