Media Corp raise capital for new acquisitions

Shares priced at 3p placed with institutional and private investors

Justin Drummond, chief executive of online publishing group Media Corporation will soon be on the acquisition trail, having raised GBP 870 000 by placing 29.1 million treasury shares in the company with institutional and private investors at a price of 3p per share.

15.1 million of the shares were taken up by an existing private investor in the company for settlement mid February

Drummond intends to use the funds raised to "pursue new acquisition opportunities" although he stopped short of detailing these. Mediacorp's last acquisition was Purple Lounge late last year.

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search Results