Scientific Digital Imaging (AIM:SDI) – small fund raising to offer support
The AIM quoted provider of digital imaging technology to the scientific community announced a small fund raising (£850,000) at 15p to boost the balance sheet and repay some costlier convertible loan stock
The bizarre shareholder loan agreement with Dana Investments BV announced at the same time somewhat clouds the issue! Dana is lending the Company £50,000 as an interest bearing loan and is also participating in the Equity Fundraising subscribing for 333,334 shares following which they will hold 3,496,494 shares or 15.2% Interim results for the six months ending 31st October 2012 where quite encouraging with revenue up 13.2% to £3.7m and a small, but nonetheless significant, operating ‘profit’ of £43,000. The trading update was somewhat cautious with reference to “a tentative recovery in its markets” but the Group’s ProReveal instrument detecting…