Fulcrum seeks cash for smart meter assets

Multi-utility connections and electric vehicle charging installer Fulcrum Utility Services Ltd (LON: FCRM) is raising £19.5m at 12p a share and it could raise up to £6m more via an open offer. The cash will help Fulcrum to invest in smart metering assets.

Bayford & Co and Harwood Capital are two major shareholders and they have committed to invest up to £18.5m. The placing and open offer price is below the underlying NAV of 15.4p a share, although more than 50% of that figure relates to intangible assets.

Fulcrum has done badly in recent years, although the sale of electricity conne...

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