Vindon's £2m To Move

The AIM-listed firm has placed 10m shares with institutional and individual investors and plans to use the proceeds to finance new facilities during the early part of next year.

Negotiations are under way over a possible site in Rochdale although no agreement has yet been signed.

Chairman Liam Ferguson said: "We are very encouraged by the significant interest shown in the company and welcome our new investors. The placing will significantly strengthen the company's balance sheet and create the necessary resources to pursue our strategy."