Nottinghamshire-based construction and infrastructure services provider NMCN (LON: NMCN) has secured a highly dilutive rescue fundraising after falling into financial difficulties The company continues to lose money and the terms reflect the dire financial position.

The share price had recovered ahead of the financing details, but once they were revealed it slumped 47.5p to 150p. Just over two years ago the share price was five times that level. The new shares are being issued at 20p each.

A £14m subscription is proposed, with a up to £5m more to come from an open offer. There is also a...