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Cashbox PLC, the Hook, United Kingdom based independent ATM deployer, raised
360,000 pounds ($669,331) last week by selling 7.2 million shares of its common stock to its shareholders, says Josh Royston, a spokesperson.
Robin Saunders, Cashbox nonexecutive chairman, also loaned the company 100,000 pounds, bringing the amount Cashbox raised to 460,000 pounds, Royston tells ATM&Debit News.
Cashbox plans to use the money for working capital and to purchase other independent ATM deployers.
In June, Cashbox bought a company that deployed 140 ATMs in pubs throughout the UK, says Royston, who declined to name the firm or disclose the purchase price. "There are several other opportunities in the market, but I am not at liberty to discuss them," he says.
The company's ATMs are located primarily, but not solely, in pubs. A recent ban on
smoking kept some customers away from pubs, forcing many to close.
Cashbox intends to use some of the newly raised funds as working capital. On Dec. 31, the company reported a six-month loss of $1.6 million pounds. Its fiscal year ended June 30, and it must report annual numbers within six months.
Cashbox owns 2,200 ATMs, making it one of the UK's four largest independent ATM deployers.
