Funding Availability
October 27 2003 - 9:55AM
UK Regulatory
RNS Number:3475R
Mosaique PLC
27 October 2003
27 October 2003
Mosaique PLC
Funding Availability
Mosaique PLC announces it has reached agreement with Cornell Capital, an equity
investor, to provide funding up to two million pounds.
The equity line of credit agreement will enable Mosaique to draw down cash, as
it requires, in exchange for the issue of new ordinary shares.
Amer Deen, Chief Executive of Mosaique, states, "The funding is very flexible
and provides Mosaique with an opportunity to both continue to expand its
existing interests and the resource to make strategic acquisitions in areas
where the Board has expertise. This development will further enhance
shareholder value as has been demonstrated in the uplift of the share price from
12p to 48.5p since the appointment of the new Board in March 2003."
This information is provided by RNS
The company news service from the London Stock Exchange
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