Shore Capital acts as Nomad and Sole Broker for £6.1m placing for FireAngel

FireAngel (AIM: FA.), one of Europe's leading developers and suppliers of home safety products, announced a proposed open offer to raise approximately £6.1 million, at an issue price of 12 pence per new ordinary share. In addition, approximately £6.1 million (before expenses) conditionally raised by means of a placing with certain existing shareholders and other investors at an issue price of 12 pence per new ordinary share, subject to clawback under the open offer. It should be noted that new ordinary shares will only be issued pursuant to the placing if and to the extent that the open offer is not subscribed in full by shareholders of the Company.

The issue price of 12 pence represents a premium of 20 per cent. to the closing price the last business day prior to announcement.

The funds raised will be used to strengthen the Company's balance sheet and to deploy and support its connected homes technology.

 

For further information please contact:   

Shore Capital +44 (0) 20 7408 4090

Corporate Advisory: Tom Griffiths / David Coaten

 

For Shore Capital media enquiries, please contact:   

Adele Gilbert: +44 (0)74 8477 8331

 

Note to editor

About Shore Capital

We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income.  We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM.  Shore Capital is also the 3rd largest market maker by number of AIM stocks covered.

Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK and Europe.

Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.