Gold Greenlees Trott is to raise £14.7m through a rights issue of new Ordinary Shares at 235p per share. The group plans to use the proceeds to fund acquisitions which will build upon its existing businesses in the UK and US.
The rights issue will be offered to shareholders on the basis of 1 new Ordinary Share for every 3 existing Ordinary Shares. 5 years ago GGT used a rights issue to buy the Minneapolis agency Martin-Williams.
GGT’s pre-tax profit for this year is currently forecast at £4.5m, up on 1992 but still well below 1990’s £7.68m.
GGT: 071 437 0434
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