Somerset-based leather manufacturer Pittards has announced successful discussions with a trade investor to invest up to £1 million.

The unnamed trade investor has agreed subject to finalisation of a subscription agreement, to invest up to £1 million via the issue of up to 25,000,000 new ordinary shares under the current open offer to shareholders, subject to its shareholding being less than 30 per cent. of the Enlarged Voting Share Capital on Admission.

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