Interesting comments everyone, but I am betting they announce contracts in the near future and the cap raising allows them to start buying in the hardware etc. Agree that the size of the raising is to large given the rollout of own sites is self funding.worth reading the numbers on the tech conversions as payback is 4 months on the average site. Cost is £15k, revenue is £6k month average and 70% ebitda... so £4200 per month x 190 sites. By June 2017 that should be 270 sites. Get your calculators out.
I would have preferred they did not do the insto raise and simply announced the contracts when secured and then raised some funds on a rising share price. Thought CM was smarter than this !!
Ann: Trading Halt, page-13
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