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Corero Network Security PLC to Raise GBP 4.05 million


Friday, 8 Feb 2013 02:00am EST 

Corero Network Security PLC announced that it has decided on conditional placing to new and existing shareholders and a conditional subscription by directors and management of the Company of, in aggregate, 27,000,004 new ordinary shares of 1p each at a price of 15 pence per Placing Share to raise up to GBP 4.05 million (before expenses). The Fundraising has been undertaken to provide ongoing funding for, inter alia, the continued development of Corero's First Line of Defense product proposition. The First Line of Defence product stops unwanted traffic (including Distributed Denial of Service cyber-attacks) from reaching and overwhelming firewalls and other infrastructure components. The Fundraising consists of a conditional placing with new and existing shareholders of 8,133,337 New Ordinary Shares and a conditional subscription of 18,866,667 New Ordinary Shares by certain directors and management of the Company. 

Company Quote

23.0
0.0 +0.00%
25 Jul 2014