Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Roebuck Food Group PLC - Newry, Northern Ireland-based protein and product sourcing company - Raises just over £2.1 million via placing of around 15.7 million shares at 13.5 pence each. Further, raises £375,000 via subscription for 2.8 million shares. Raises £2.5 million in total.
Earlier Friday, Roebuck said it has agreed to buy Moorhead & McGavin Ltd for £2.2 million, and announced plans for the fund-raising.
It said the proceeds of the placing would be used to pay for the acquisition of Moorhead and for ‘general working capital requirements.’
Moorhead & McGavin is a food and food ingredient distribution business based in Motherwell, North Lanarkshire. It specialises in supplying pulses, cereals, pasta and rice to the food service industry. In 2022, it reported revenue of £7.3 million and earnings before interest, tax, depreciation & amortisation of £377,000.
Current stock price: 13.00 pence
12-month change: up 36%
Copyright 2023 Alliance News Ltd. All Rights Reserved.