Stanley Gibbons (AIM:SGI) –thank goodness for an equity raise, but what a mess!
Management is now “confident that an equity raise is the most expedient and efficient method by which to raise the capital necessary.” Accordingly, the Group is in the process of raising approximately £10.0m of new equity with existing holders being given first dibs.
We are staggered how a business of this small size (revenue last year was £57m and admin expenses £26m) has also suddenly identified cost savings of at least £5.0m, equivalent…
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