Laird rights issue receives 95.5% take-up

The new shares were offered at 85p a pop and 95.5% of those on offer were taken up.

Proactive Published 04/04/2017

Share X in f @

Shares in Laird PLC (LON:LRD) rose 2.4% in early deals as it revealed it had received a strong response to its recent rights issue.

Read Laird confirms £185mln cash call, scraps final dividend as 2016 profits drop

The company, which has been hit by the slow-down in the growth of smartphone sales, said 95.5% of the shares on offer in its recent underwritten rights issue, priced at 85p a share, were taken up by shareholders.

The shares, which got dragged down yesterday in the panic over Apple dumping Imagination Technologies as a supplier, rose to 150p this morning.