Travelzest raises Ł1.5m, to continue with acquisition of niche travel operators
British online travel group Travelzest plc has raised approximately Ł1.5 million to continue its strategy of the acquisition of niche travel operators. (8/1/2007)
The company is building a portfolio of companies offering travel and holiday experiences, which use the Internet as a key distribution channel.
According to an official release: “Travelzest raised approximately Ł1.5 million before expenses through the issue of 1,060,000 new ordinary shares of 2 pence each (“New Ordinary Shares”) to institutional and other investors at a price of 145 pence (“the “Placing Price”) per New Ordinary Share (the “Placing”)...”
Chris Mottershead, Chief Executive of Travelzest said: “Travelzest’s strategy of targeting niche travel operators and developing the proposition through both operational and distribution enhancements is evidenced by the results we have achieved with the current portfolio and we look forward to the future with confidence.”