Data tech firm WANdisco is hoping to see its shares re-admitted to the London Stock Exchange later this month amid a bid to raise £23.5m ($30m).
The effort is part of a turnaround plan for the beleaguered Sheffield company which saw trading of its shares on AIM suspended following revelations of possible fraud. Recently the firm said it would issue 47,528,517 new ordinary shares at an offer price of 50p per share.
Newly installed interim chief executive Stephen Kelly, a prominent tech figure and existing WANdisco investors, has subscribed to a further 850,000 shares worth £425,000 as part of the move, along with pledges from chairman Ken Lever and other directors.
