Multimedia Corp Plc, London, originally an offshoot of the British Broadcasting Corp, which listed its shares for trading under Rule 4.2 earlier this year (CI No 2,598), is seeking to raise ú3m in new money through a placing of 8.3m shares by Shore Capital Stockbrokers Ltd on the new Alternative Investment Market. The shares have been priced at 45 pence each, capitalising the company at ú12.98m. The developer of CD-ROM titles intends to use the proceeds to repay its borrowings and to provide additional working capital in order to fund continued expansion and enable it to co-invest in developing further multimedia titles. It saw a loss of ú94,000 on turnover of ú1.6m for the year to December 1994, up from losses of ú49,000, on turnover of ú906,000 for the 1993 financial year. It says the losses reflected the immaturity of the market and the heavy expenditure made during 1994 in expansion, particularly training and software development.
