Ultimate Sports Raises GBP290,000 For General Working Capital

Ultimate Sports Group PLC on Monday said it has raised GBP290,000 before expenses by way of a conditional share subscription. The investment company said it issued 2.0 million shares at a price of 14.5 pence each, representing a 0.1% discount to the closing price of 14.65p on Friday. Ultimate Sports shares closed untraded on Monday, giving it a market capitalization of GBP4.9 million. The net proceeds of the subscription will be used for general working capital purposes, the AIM-listed company said. Following the admission, Ultimate Sports will have 35.6 million shares overall, it said.

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