Flowtech Fluidpower (GB:FLO) has released an update.
Flowtech Fluidpower PLC, a leading supplier of technical fluid power products, has announced the exercise of warrants by Zeus Capital Limited resulting in the issuance of 1.2 million new ordinary shares at 100 pence each, raising £1.2 million in cash proceeds. This capital influx will be utilized to reduce the company’s net debt, with the new shares expected to begin trading on AIM around 28 May 2024. Following this share issuance, the total voting rights in Flowtech Fluidpower will stand at 62,875,173 shares.
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