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LONDON - Aurrigo International plc (AIM:AURR), a transport technology solutions provider, announced Wednesday a retail share offer to raise up to £0.5 million through the Winterflood Retail Access Platform (WRAP).
The company will issue up to 1,111,111 new ordinary shares priced at 45 pence per share, representing a 10 percent discount to the mid-market closing price on August 26. The retail offer will run alongside a separate placing and subscription aiming to raise a minimum of £13 million.
The WRAP Retail Offer is open to eligible UK investors, including both new and existing shareholders, with a minimum subscription of £100. The offer is expected to close at noon on August 29, with results announced the same day.
Completion of the retail offer is conditional upon the completion of the larger placing and subscription, as well as shareholder approval at a General Meeting scheduled for September 19. Admission of the new shares to trading on AIM is anticipated for September 22.
Retail investors can participate through financial intermediaries connected to the WRAP platform, with interested brokers directed to contact WRAP@winterflood.com. The company noted that applications, once accepted, cannot be withdrawn.
Aurrigo reserved the right to amend the size of the retail offer and to scale back or reject any applications without providing reasons.
The announcement stated that proceeds from the retail offer will be utilized in the same manner as those from the larger placing and subscription, details of which were provided in a separate announcement.
The information was provided in a company press release.
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