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WANdisco PLC on Friday - Sheffield, England-based data migration platform - Will proceed with $30 million fundraise plan after approval at general meeting on Tuesday, and expects to complete it on or around June 30. The fundraise was announced last month. The company intends to use proceeds for general working capital business and to underpin marketing, sales, research, development infrastructure and to enhance business development. Adds, it seeks to lift share suspension to trading on AIM to provide liquidity for shareholders and ‘further restore confidence in the company.’ Also expects to propose name change at the annual general meeting as part of a ‘broader update to the company’s overall brand to best reflect the values and vision embodied in the turnaround plan.’ In March, WANdisco suspended trading in its shares after uncovering signs of possible ‘sophisticated’ fraudulent activity, just days after the company had announced it was exploring a potential US listing. Current stock price: suspended Copyright 2023 Alliance News Ltd. All Rights Reserved.
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