Haydale successfully raised £6.0 million in an open share offer

A couple of weeks ago Haydale announced that they plan to raise funds by ways of a new shelf issue, and now Haydale reported that the new issue was successful and the company raised around £6.0 million.

Haydale’s revenues in 2015 reached £644,000 (up from £19,000 in 2014) while total income (which includes government grants) reached £1.48 million (up from £129,000). Most of the increase in income came from EPL Composites (now renamed Haydale Composite Solutions, or HCS) – which generated £1.18 million in income. Haydale loss rose to £2.38 million.