Broca’s cash call

BROCA, the high-tech Lancashire mobile messaging company has told investors it is going to need more money to operate beyond March.

The AIM listed company which was demerged from Rawtenstall-based 2ergo last year, said its finances had been hit by a “significant slippage in the completion of a number of key licence contracts”.

Broca, named after the part of the brain responsible for communication, said it is now seeking the “necessary additional funding to support its ongoing investment plans”.

It said there was a growing market for its technology, but while the wider economic outlook continues to be uncertain the company is “cautious” in its outlook.

Shares were unchanged at 12.5p.