Micrographic equipment maker Imtec Group Plc is having to seek more capital a year after being rescued by British & Commonwealth Holdings Plc, which currently holds 54% of the shares: the firm, whose shares currently trade at a rock-bottom 2.75 pence, is making an open offer to shareholders – that differs from a rights issue in that holders may apply for as many shares as they like, rather than being limited pro rata with their existing holdings – of 107m new shares at tuppence each to eliminate its debt; the offer is being underwritten by B&C Ventures, which will end up with as much as 69%, depending upon the take-up.
