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Marshalls announce rights issue

Building materials manufacturers Marshalls are the latest to ask shareholders for more money via a rights issue.
They want to raise £34m and the deal is fully underwritten. Existing shareholders will receive a two-for-five offer and the new shares will be priced at 65p each.

Marshalls’ first quarter sales were down to £109m from £135m for the same period last year with underlying daily sales on a like-for-like basis down 19%.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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