And provided there is sufficient demand, several key shareholders, including joint chief executive officer Neil Dunkley, his wife Sian Dunkley and chief commercial officer Mark Howard have agreed to sell 1.33m of existing ordinary shares owned between them to raise an additional £2m.
The place shares and sale shares will be offered via an accelerated bookbuild, with N+1 Singer acting as sole bookrunner.
The announcement to shareholders also confirmed that Harwood-owned Wellian Investment Solutions has been selected to look after a range of multi-manager portfolios on behalf of a substantial IFA business, subject to FCA approval.
However, the firm added this was not expected to materially impact revenue in 2017.
