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Valereum PLC - Gibraltar-based technology company - Announces it is issuing a total of 3.4 million shares of 0.1 pence each, at a price of 4.6 pence per share. Total value is £156,020, following the conversion notice received by the company under the terms of the funding facility that it announced in late January. The company says this brings its outstanding balance down to $800,000. Valereum says that dealings are expected to commence on or about June 27, and the issue is subject only to admission. Following this issuance, the company’s total issued share capital consists of 96.6 million shares.
This follows Valereum’s acquisition of Sparta Ltd for £100,000 in late May. Sparta is a Gibraltar-based company formation and management service provider, and was acquired by Valereum following the cancellation of its acquisition of Juno Group.
Current trading share: 5.03 pence
12-month change: down 82%
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