Orchard Growth Partners assists client in raising £1.0 million through Placing and Open Offer

Orchard Growth Partners, a leading provider of finance director services, is pleased to announce that its client AIM-quoted Screen Technology plc, recently completed a fundraising of £1.006 million through a Placing and Open Offer.

Orchard Principal, Salah Mirza, has been working with Screen Technology providing additional FD support assisting the company through the fundraising process. In this role Salah was involved in ensuring that the company’s cash position was maximised until funds were raised, and the specific activities included;

- cashflow forecasting and financial management during the period when the company’s cash balances were squeezed.
- preparation of an integrated financial model which was used as the basis for the company’s business plan;
- claiming R&D tax credits for the company which is a significant investor in R&D having patent-protected technology for high-definition moving video quality image and clear information on screens.

During this time, Salah also took on the monthly reporting and company secretary responsibilities to further free up the Senior Management Team to focus on company strategy.

Tom Jarman, Chief Executive, Screen Technology plc:
“We are delighted to be using Orchard Growth Partners’ services. The ability to have someone of Salah’s experience as much or as little as we needed in any month has been vital in managing our own cost base yet ensuring we have the financial information and controls we needed during a challenging period as a public company, and obtaining the funds we need for future growth.. ”

Salah Mirza, Principal, Orchard Growth Partners said:
“We are pleased to be working with Screen Technology. This has been a good example of how we work with clients who need additional “bandwidth” at certain points of their growth.”

Contact:
Salah Mirza  Orchard Growth Partners  0845 3700 303/ 07713 742417

About Screen Technology plc       www.screentechnology.com
Cambridgeshire-based Screen Technology is an expert in display technology and is the first company to provide a solution for large, flexible format, high image quality displays using a revolutionary new approach to unlimited tiling. Founded in 1995, Screen Technology has developed and launched ITrans, the worlds first and only technology to provide high brightness, high resolution, large format display screens with superior picture quality.

About Orchard Growth Partners     www.orchardgrowth.com
Founded in 2006, Orchard Growth Partners provides part-time Finance Director services to growing companies. Orchard’s high calibre and commercial Principals across the UK work closely with CEOs, entrepreneurs and management teams in companies to assist them in managing the growth of their businesses. Orchard’s clients obtain a strategic finance director working as part of their management team without the full time cost of an FD.