Provexis to raise £2.2m in open offer to shareholders
HEALTH supplements group Provexis aims to raise £2.2m through an open offer to shareholders.
It announced its intentions in its annual figures last month, linked to the acquisition of Blackburn-based sports nutrition manufacturer Science in Sport .
The company, which has a research and development unit in Liverpool’s Crown Street, said the open offer will depend on shareholder approval at a general meeting in Reading on July 25.
It will not proceed if shareholders reject the proposal.
The £2.2m offer follows a share placing to raise £2.5m towards the £8m cost of acquiring SiS.
Provexis said it believed all its shareholders should have the opportunity to invest in the company and to participate at the same price per ordinary share as those who bought shares through the placing.
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