FireAngel Safety Technology Group plc, a leading developer and supplier of home safety products, has raised £9.8m via a firm placing and conditional placing, subject to clawback under an open offer, with Shore Capital acting as Nomad and Joint Broker.

FireAngel intends to use the net proceeds to fund research and development to accelerate new products; implement efficiencies, improvements and cost-saving; strengthen the Company’s balance sheet, including optimising the Company’s working capital position in respect of stock and payables; and fund part of the legacy battery warranty returns.

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Shore Capital +44 (0) 20 7408 4090

Corporate Advisory: Tom Griffiths / David Coaten

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Adele Gilbert: +44 (0)74 8477 8331

Note to editor

About Shore Capital

We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income.  We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM.  Shore Capital is also the 3rd largest market maker by number of AIM stocks covered.

Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK, Europe and US.

Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.