Nektan has secured backers for a £2.6mln share placing at 5p a share.

A £350,000 unsecured loan note that was extended as financial support ahead of the fundraiser forms part of the subscription agreement, the gaming technology specialist confirmed.

The company will also convert all its Series-A convertible loan notes and interest owed. It has also brokered a deal to extend the terms of its Series-B convertible loan notes, while the terms of certain director loans have been altered