Plexus Holdings ( (GB:POS) ) has provided an update.
Plexus Holdings Plc has announced a successful fundraising initiative, raising a total of £3.5 million through a combination of Placing, Subscription, and Retail Offer. The company plans to convert outstanding convertible loan notes into shares, subject to shareholder approval at the upcoming general meeting. This move is expected to enhance Plexus’s financial position and support its ongoing operations and strategic initiatives in the oil equipment and services sector. The transaction involves related party participation, deemed fair and reasonable by the company’s independent director and adviser.
More about Plexus Holdings
Plexus Holdings Plc is an IP-led company specializing in the development and provision of wellhead systems and associated products and services for offshore operations. Headquartered in Aberdeen, the company focuses on providing wellheads for Jack-up rig operations, exploration and appraisal drilling, Plug & Abandonment work, and emerging markets such as Carbon Capture & Storage, hydrogen production and storage, and geothermal. Plexus is known for its innovative POS-GRIP® wellhead technology and HG® metal-to-metal sealing systems, and it collaborates with major industry players like SLB and TechnipFMC.
YTD Price Performance: -8.29%
Average Trading Volume: 513,858
Technical Sentiment Signal: Buy
Current Market Cap: £9.91M
See more data about POS stock on TipRanks’ Stock Analysis page.