NetScientific gets shareholder backing for placing

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NetScientific PLC (LON:NSCI) said shareholders have approved its GBP7.7mlm placing while its portfolio companies have reported significant commercial developments that will drive strong future growth.


Fair value has increased by around 40% on the year-end and now represents a premium to the market value of 38%, noted the investment group’s statement.


John Clarkson, chairman, said: “On behalf of the Board I want to express our gratitude to current and new shareholders for their overwhelming vote of support. This demonstrates confidence in the strategy to deliver further progress and shareholder value. The company is now well-positioned for future success.”


Dr Ilian Iliev, chief executive, added: “We are driving ahead with the execution of the business plans and analyst coverage of the company has now restarted. This combines the use of ‘capital-light investment, pro-active management, value-added support to our portfolio, trans-Atlantic synergies, and new opportunities to realise returns.”

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