By Sheri Kasprzak
New York, Sept. 14 - Felix Group plc has settled a private placement of stock for £4,013,500.
The company sold 16,054,000 shares at 25p each to a group of institutional investors.
Teather & Greenwood Ltd. was the placement agent for the financing.
The proceeds will be used to repay about £400,000 in shareholder loans, and the rest will be used for working capital.
In other news, the company announced that Alasdair Waddell stepped down from its board of directors. Andy Egan will replace Waddell as chief executive of the board. Also, John Liwosz was appointed managing director of Felix Corp. Ltd. and appointed to the board as operations director.
Based in Cheshire, England, Felix Group is a marketing company focused on the retail and entertainment industries.
| Issuer: | Felix Group plc
|
| Issue: | Stock
|
| Amount: | £4,013,500
|
| Shares: | 16,054,000
|
| Price: | 25p
|
| Warrants: | No
|
| Placement agent: | Teather & Greenwood Ltd.
|
| Settlement date: | Sept. 14
|
| Stock price: | 33p at close Sept. 14
|
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