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KRM22 continues discussions about potential fundraising

Published: 10:20 07 May 2020 EDT

KRM22 PLC -

KRM22 PLC (LON:KRM) told investors that trading has continued as stated in its trading statement last month and that it is continuing talks about a potential fundraising.

The risk management software specialist put out a statement on Thursday afternoon in response to a fall in its share price.

Discussions with shareholders and certain other investors regarding an equity fundraising or potential alternative financing are continuing, the London-based company said. 

“These discussions remain ongoing and a further update will be made when appropriate,” the AIM-listed firm said. 

In the early April, statement the board stated its commitment to an equity placing with existing and potential new shareholders, as well as holding talks with banks about access to government backed loans and in addition to its existing and new debt providers.

KRM22 also at the time outlined a £1mln reduction in its annual cost base and that it was seeing continued interest in its products, with a number of multi-year contracts were in the advanced stage of negotiation but the sales cycle extended due to the coronavirus pandemic.

Later in the month KRM22 agreed to acquire full ownership of its 60% owned market surveillance subsidiary Irisium for a £550,000 convertible loan note.

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