The cash shell, formerly known as Photonstar LED, said it would issue around 5.3mln new shares at a price of 0.0125p each
() has launched an open offer to raise £660,000 to help it evaluate potential opportunities for a reverse takeover.
The cash shell, formerly known as Photonstar LED, said it would issue around 5.3mln new shares at a price of 0.0125p each.
Bould added that it was also in the process of disposing of its operating subsidiary, PhotonStar Technology Ltd.
The company said it would hold a general meeting on 21 May for shareholders to vote on the placing and the disposal.
In early trading on Wednesday, the shares were down 33.6% at 0.04p.
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