SCEPTRE BENEFITS FROM INVESTOR INTEREST

With the economic downturn having sparked a major consolidation in the games machine market, the company has raised £5.5million to help win further business from some of the UK’s biggest pub companies in a placing with Hillroad Investments, who will end up with a 29.9 per cent stake.

This is just below the level for a mandatory takeover bid. Although the shares were placed last week at 33.1p a share, Sceptre closed the week at 76mp, valuing the company at nearly £30million. Sceptre said the money will be used to take advantage of consolidation in the sector, which has opened up “significant opportunities” to win new business. Sceptre has struggled to find credit, saying the markets are closed, constraining its ability to grow.

Chief executive Ken Turner welcomed Hillroad to the company, adding “The additional capital will allow us to take advantage of the significant opportunities that currently exist in our market place.” Sceptre said shareholders were nearly 83 per cent in favour of the deal.

Sceptre joined Aim last September, following a reverse takeover of Gamingking.