ProService shareholders to vote on refinancing plan; dilution seen far above stock’s market value
ProService Building Services Marketplace Plc shifted to a refinancing and dilution play after a proposed £60 million funding package pointed to heavy new cash and a likely large share issue. On June 29, the company said it will look to issue as much as £25 million in floating-rate secured convertible loan notes to Ravensworth Limited, with a £35 million asset-based lending deal lined up with Leumi UK Group Limited. AIM was open at the time reported. TradingHours.com showed the London Stock Exchange July 2 session running from 8:00 a.m. to 4:30 p.m. local, with London time at 12:08 BST.