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TEG completes £2m fundraising

22nd June 2012

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A TEG site built at Rochdale

A TEG site built at Rochdale

TEG Group has announced that it has successfully completed a £2m fundraising announced earlier this month after the firm ended its sale talks.The Chorley-based company said its open offer of over 66.9m shares at 3p per share had been oversubscribed by 42.2%.The company had revealed that it needed the extra cash due to delays to project revenues when it announced a pre-tax loss of £8m on sales which had dropped by 14% to £17.9m for 2011. It blamed the bulk of the losses on write-downs in the carrying value of pla......for the full story register now for free or login below...


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