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Unbound Group – fundraising result, it really “pleased to announce”?!

Unbound Group (UBG) states that it “is pleased to announce all resolutions put to shareholders at the General Meeting held earlier today in connection with the fundraising and share capital reorganisation were duly passed” and that it “would like to thank shareholders for their support of the fundraising and take the opportunity to welcome new investors onto the register. Now, with the fundraising approved, we will focus on accelerating our growth strategy in a controlled fashion”. So what’s the detail?


SHOCKER: Unbound Group – desperate equity raise & consensus expectations omit certain costs “such as for the head office”!

‘Hotter Shoes’ brand 55+ demographic footwear group Unbound (UBG) “is pleased to announce that, further to the announcement made on 21 July 2022 regarding the fundraising, an aggregate of 20,783,334 placing shares have been successfully placed by Singer Capital Markets Securities Limited at an issue price of 15 pence per placing share to raise gross proceeds for the company of approximately £3.3 million”. With the shares currently down more than 40% in response, should it be pleased to announce this?!

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