In brief: NAB completes fundraising; Adam Howard secures new contract;

YORKSHIRE Bank owner National Australia Bank today confirmed that it has successfully raised £1bn through a share placing to strengthen its balance sheet.

The group, which owns Yorkshire and Clydesdale banks in the UK, said that the oversubscribed equity capital fundraising of 2bn Australian dollars (£1bn) had seen 93m shares placed with institutions at $21.50 per share.

The move will increase its ratio of equity capital to assets from 8.2% to 8.8% and will be followed by an offer of new shares to retail shareholders worth up to $750m (£370m).

Yorkshire Bank has been one of the most active lenders in the North West in the last six months, supporting a number of high profile transactions.

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PUBLIC Relations firm Adam Howard PR has won a contract to handle melt, a fine fragrance candle manufacturer.

The Lancashire-based company was set up 10 years ago by Cheryl Hook and Trevor Hatch in their garage.

The firm now produces the handmade candles from a workshop at Backridge Farm, near Clitheroe and supplies to 500 retailers from across the UK.

Cheryl Hook, director of melt, said: “Adam will be looking to promote melt’s profile across the trade media with a view to securing additional specialist retailer accounts across the country, as well as supporting us at key trade shows, the first being the Home & Gift Show 09 in Harrogate this month.”