SAFETY equipment group Cosalt today said it is to raise cash through a share placing to avoid it breaching its banking covenants as it fell to a £3.4m half year loss.

The Grimsby-based group, which provides safety equipment such as liferafts and lifejackets for the marine and offshore oil and gas industries, blamed the loss on exceptional costs and writedowns as well as lower oil prices and the downturn for orders being deferred during the first half of its year plus a bill of £1m in fees after it extended its b......for the full story register now for free or login below...