Pacific Continental Securities (UK) Limited (PCS), the micro-cap specialist broker, has completed a refinancing of Eicom plc by way of a new AIM-focused underwriting.
Eicom’s focus is now on making an acquisition that will give it sustainable profits and enhanced cash flow. Likely targets are the many independent content libraries dispersed throughout Europe.
PCS has also deployed its underwriting skills with two other AIM-listed companies, namely vending operator In Cup Plus and golf tournament specialist Parallel Media Group, raising some 2 million in total.
“This innovative form of financing is likely to appeal to many companies in a similar situation to Eicom providing immediate working and development capital,” Glynn Reece of PCS said. “The traditional AIM methodology, of presenting a company to institutions and private client brokers in the hope of building sufficient support to close a placing, can be haphazard and leave the corporate hanging in the ether if it doesn’t work.”