Plexus Holdings ( (GB:POS) ) has shared an announcement.
Plexus Holdings has successfully raised £1.0 million through a placing of new ordinary shares and plans to raise an additional £2.0 million through a subscription by its directors, with a potential further £0.5 million from a retail offer. The funds will be used to expand its rental equipment inventory, particularly the Exact-EX wellhead equipment, to meet growing demand in the global P&A and exploration wellhead markets. This strategic move is expected to enhance Plexus’s market position and support its growth strategy, delivering value to shareholders.
More about Plexus Holdings
Plexus Holdings plc, headquartered in Aberdeen, is an IP-led company specializing in the development and provision of wellhead systems and associated products and services for offshore operations. The company focuses on providing wellheads for Jack-up rig operations, including exploration and appraisal drilling, Plug & Abandonment work, and emerging markets such as Carbon Capture & Storage, hydrogen production and storage, and geothermal. Known for its innovative POS-GRIP® wellhead technology and HG® metal-to-metal sealing systems, Plexus has collaborated with major industry players like SLB and TechnipFMC.
YTD Price Performance: -34.63%
Average Trading Volume: 97,327
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £7.06M
For a thorough assessment of POS stock, go to TipRanks’ Stock Analysis page.