28.09.2010

Tanfield concludes rights issue

Tanfield, owner of Snorkel has completed its rights issue, selling 20 million new shares to raise £1.8 million net of costs.
Click here to read original report September 8th.

Shareholders took up 50.4 percent of the offering, leaving the underwriters – three of the company directors – to pick up the balance.

The conclusion is still subject to shareholder approval at a General Meeting to be held on Thursday of this week at the company’s plant in Washington, Tyne and Wear.