Image Scan raises about £525,000 in placing, subscription

Image Scan Holdings' shares rose almost 5% after it raised about £525,000 in a placing and subscription at discounted 5.25p a share.

The placing was for 9.5m new shares, while the subscription was for 500,000 new shares to chairman and chief executive William Mawer.

Following this transaction, Mawer holds about 5.2m shares or about 3.8% of the enlarged total issued share capital and voting rights of the company.

At 11:11 BST, shares in AIM-listed Image Scan were up 4.65% to 5.62p each.