Strix Group PLC - Isle of Man-based kettle safety controls and other devices for water heating and temperature control, steam management, and water filtration - Raises £8.7 million from placing of 10.9 million shares, 5.0% of its total, at 80 pence each. The results of the placing, run by Stifel Nicolaus Europe Ltd and Zeus Capital Ltd, were as planned. The placing was first announced after the London market close on Tuesday. The funds will be used to reduce debt, part of the company’s aim to reduce leverage below 2.0 times debt to capital, on the way to a goal of 1.5x by the end of 2025. Strix on Tuesday added that pretax profit for 2024 will be in line with current market expectations.
Current stock price: 87.40p, up 9.3% in London on Wednesday
12-month change: down 20%
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