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LONDON (Alliance News) - Microwave electronics product designer Filtronic PLC on Wednesday said three of its directors bought shares as part of its recent fundraising.
The company raised GBP500,000 in its open offer, falling short of its GBP1.0 million target, after it only secured 50% valid acceptances to subscribe for the 20.0 million shares on offer.
The group said Chief Executive and Chief Financial Officer Rob Smith bought 200,000 shares in the offer, while Chairman Reg Gott bought the same number and Non-Executive Director Michael Roller bought 72,929 shares.
All were bought at the offer price of 5.0 pence per share.
Shares in Filtronic were down 5.6% to 4.8374p Wednesday afternoon.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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