Jelf looks to raise £17m after reporting operating loss
Jelf has revealed it is in advanced discussions regarding the raising of a possible £17m after reporting an operating loss of £9.7m for the year ending 30 September 2009 (2008: £5.1m).
The company said it expected that any placing would be conducted at or around the price of 36p per ordinary share and would be subject to shareholder approval at a general meeting.
The move came as Jelf reported a £9.7m loss after deduction of £4.8m reorganisation and rationalisation costs and £7.5m goodwill impairment (2008: £0.7m reorganisation and rationalisation costs and £nil impairment).
Revenue has increased 11% to £70.3m (2008: £63.1m) largely driven by previous year strategic
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