Nektan extends placing to raise £3mln

Business News

Nektan PLC said Friday it has extended the deadline for its proposed placing to raise a minimum of GBP3 million to Thursday this week.

The gaming technology and services provider said that some of the expressions of interest from certain investors to meet the GBP3.0 million target were on terms that Nektan’s board considered unacceptable following negotiations.

As a result, Nektan has excluded those investors from the placing, and is in discussion with other investors to raise the funds.

The placing forms part of a capital restructuring, originally announced in September, as the firm looks to strengthen its balance sheet while integrating new clients across Asia and Africa, revenues from which it expects will have potential to “transform the group’s financial results”.