LONDON, 25 October 2011 – Panmure Gordon & Co., a leading independent institutional stockbroker and investment bank, is pleased to announce it has acted as Nominated Adviser and broker to Mid-State plc (AIM: MST) on a placing to raise approximately £1.8m.
Mid-States plc is an environmental technology company that specialises in air disinfection technology. Its flagship product, ‘The AD’, cleans the air of bacteria and viruses, eliminating airborne infections in enclosed spaces. The AD is already used in more than 600 NHS hospitals throughout the UK and Mid-States has recently partnered with a Chinese distribution company to exploit local market opportunities.
The company will use the proceeds of the placing to further develop its technology and product range.