EnSilica to raise £0.3m through retail offer

(Sharecast News) - EnSilica announced a retail offer through the Winterflood Retail Access Platform (WRAP) on Friday, to raise up to £0.3m. The AIM-traded firm said the offer would involve issuing up to 666,666 new ordinary shares at 45p each.

It said the WRAP retail offer complemented a previously-announced placing and subscription that conditionally raised £4.9m.

The issue of WRAP retail offer shares remained contingent on shareholder approval at a general meeting scheduled for 17 June.

If approved, the shares were expected to be admitted around 19 June.

Completion of the WRAP retail offer depended on the completion of the placing and subscription, but not vice versa.

At 1257 BST, shares in EnSilica were down 17.93% at 45.14p.

Reporting by Josh White for Sharecast.com.