Euro Capital raises £0.8m

East European-focused property hopeful Euro Capital Projects, which lost £164,000 in the six months to March, has raised £800,000 at a lowly 1p to provide additional working capital.

>Backed by financial outfit Griffin Group and until a year ago chaired by entrepreneurial Griffin boss Stephen Dean, Euro Capital, which lost £164,000 in the six months to March, last came to the market in September for £225,000, also at 1p. That price compares with today’s 1.13p and is well down from the company’s 6.25p high in September of last year.

In January, Euro Capital invested £150,000 in Pactolus East European Property, a UK-based investment concern set up to seek residential property prospects in the Hungarian capital, Budapest. In February, the company invested £303,435 in AIM-quoted Ionian Estates, which is pursuing potential leisure and holiday prospects in Croatia.

Michael Nash, who replaced Dean at the helm of Euro Capital, also chairs Ionian, where another director, Vincent Nicholls, also shares his time with Euro Capital.

Leslie Copeland

Gordon Yost

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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