Meanwhile, Datalex’s corporate broker Goodbody Stockbrokers launched a €4.2 million share placing among stock market investors on Friday. The third element will comprise a planned €6.1 million “open offer” share sale among existing investors. Mr Desmond’s Tireragh vehicle provided Datalex with €11.3 million of emergency loans in 2019 as the company dealt with the fallout from an accounting scandal. He agreed an additional €10 million debt facility last year, but Datalex did not need to draw it down. The balance of the funds will be used for “the funding of working capital to support implementation of new revenue opportunities and an acceleration of the company’s investment in its product roadmap,” it said.

Source: The Irish Times June 04, 2021 06:55 UTC