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RM PLC on Friday raised approximately £13.5 million in gross proceeds from a placing with ‘strong demand’. The Abingdon, England-based supplier of technology and resources to the education sector said bookrunner and broker Singer Capital Markets successfully placed 14.2 million shares at 95 pence each. Shares in RM were trading 1.0% lower at 99.04p on Friday afternoon in London. ‘The placing received strong demand and was significantly oversubscribed,’ RM said. The placing price represents a 5% discount to RM’s closing price of 100p per share on Thursday. RM expects the placing shares to be admitted to trading on or around the market open on Tuesday. Announcing the proposed placing on Friday morning, RM said it will use the net proceeds to complete the necessary separation work for disposals of non-core assets; to strengthen RM Ava and accelerate its development; to invest in RM Assessment’s sales and marketing capabilities; and for general working capital. ‘We are very pleased to announce the successful completion of the significantly oversubscribed placing and I would like to thank all those investors for supporting this raise,’ commented Chair Helen Stevenson. ‘We look forward to reporting on RM Ava’s development alongside further progress made with executing our strategy.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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