Provexis chairman joins possible fundraising

Provexis, the developer and licenser of the proprietary Fruitflow heart health food ingredient, updated the market on its ongoing seeking of funding on Wednesday, with an uplift in interest thanks to its chairman.

The AIM-traded firm had announced on 9 June that it was in late stage discussions with a small group of investors about a potential subscription to raise further working capital.

At the time, it said it had non-legally binding indications of interest to raise £0.16m at a price of 0.24p per ordinary share.

On Wednesday, its directors said they now have non-legally binding indications of interest in the subscription to raise a total of £0.19m at a subscription price of 0.24p per ordinary share.

The indications include a possible £25,000 from the company’s chairman Dawson Buck.