Nektan looking to raise working capital

B2B mobile content developer and platform provider Nektan said Monday it had received commitments from new and existing investors, including directors, to raise up to GBP 2.93 million which will be used to expand its European and US business interests.

Nektan plan on raising the funds through a combination of subscriptions to new convertible loan notes and new Ordinary Shares and Warrants which it says is “strongly supported by major existing investors and certain directors”.

The proposal is conditional on the approval of shareholders at an extraordinary general meeting due to be held towards the end of March 2016.