Defenx raises £1.52m

Defenx has raised £1.52 million through a conditional placing and subscription of 1,897,500 new ordinary shares at 80p apiece.

The fundraise consists of a placing of 1,647,500 new ordinary shares with certain existing and new institutional and other investors through the Company's joint brokers, WH Ireland and Beaufort Securities, and a subscription of 250,000 new ordinary shares by the executive directors.

The net proceeds, together with existing cash resources, will be used to enable the company to accelerate software development work and for general working capital purposes.

At 3:56pm: (LON:DFX) Defenx Plc share price was -9p at 90p