COSALT, the safety equipment firm, has seen more than 80% of shareholders had backed its multi-million pound share placing which it hopes will help reduce debt and provide more financial stability.

The remaining shares have been allocated to investors.

Cosalt has issued 378m new ordinary shares at 5p per share, a discount of 84% to its closing share price on Wednesday. After expenses it will raise £17.1m

The move by the Grimsby-based group, which provides safety equipment such as liferafts and ......for the full story register now for free or login below...