Landkom to raise GBP 9.75 mln via share placement
23 October 2009
Landkom International (LKI LN) yesterday announced that it is planning to ask for shareholder approval to raise GBP 9.75 mln from the sale of 195 mln new ordinary shares at 5 pence per share. Landkom shareholders are due to vote on the issue on November 18. The issue price represents a 30% discount to the closing mid-market price on October 21. Landkom plans to use the proceeds for working capital needs, including its crop and planting programs in 2010.
