APC secures new orders for Wm Morrisons and raises £1.45m

17th Feb 2015 14:55

Technologies provider APC said on Tuesday it secured a contract with Wm Morrisons and raised £1.45m by a placing of shares.APC received its first orders from Morrisons for the next phase of their LED lighting roll out, which the group believes will help the business to meet market expectations for 2015.It also raised £1.45m via a conditional placement through Northland Capital Partners of 6.59m shares at a price of 22p each.Chief executive Mark Robinson said: "We are delighted to have received these first new orders from Wm Morrisons and we look forward to this next phase of work with them."The progress that the group is making, especially across its Minimise subsidiaries, is very encouraging."Shares in APC were up 9.13% to 24.8p on Tuesday at 13:05.