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Kellan Group (KLN: LSE), announced that it has accepted the initial fundraising proposal from Kellan’s largest shareholder, Paul Bell. This follows a counter proposal that was launched by shareholder James McHugh in June.
The details of the proposal remain the same; comprising the issue of 120 million new ordinary shares at the price of £0.75 per share to Paul Bell. Paul Bell currently holds 41.7% of the issued share capital of Kellan Group.
Kellan Group operates through three recruitment brands: Berkelely Scott, Quantica, and RK. The company recruits professionals in finance & accounting, information technology, supply chain & procurement, legal, retail, manufacturing, catering, hospitality & leisure, and human resources.
In early morning trading, the company’s share price was £0.72, an increase of +7.41 % from yesterday. The current market value of Kellan Group is £1.54 million.