UK's East Imperial tops London stocks after proposal to raise $2.88 mln

East Imperial

17/07/2023 12:16

** Shares of beverage maker East Imperial EISB.L  up as much
as 23% to 1.045p
    ** Top pct. gainer across all London stocks
    ** Co proposes to raise 2.2 mln pounds ($2.88 mln) via issue
of 10% secured convertible loan notes to strategic investor Wen
Hua International ("WHI") 
    ** Says convertible price of 1 pence represents premium of
about 15% to its closing price of 0.850 pence per share on July
14 
    ** Says net proceeds from issue of 2025 convertible loan
notes will provide required additional working capital for
EISB's plan of continued expansion
    ** As of last close, shares were down 70% YTD
    
   


($1 = 0.7648 pounds)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))