Stricken IT company The Innovation Group (TIG) refused to rule out a heavily rumoured £10m rights issue.
The directors of the company are said to be planning to increase their hold on the company b ...
Stricken IT company The Innovation Group (TIG) refused to rule out a heavily rumoured £10m rights issue.
The directors of the company are said to be planning to increase their hold on the company by taking up the entire issue themselves.
A TIG spokeswoman would not comment directly on the rights issue.
But she said: "Given the concerns in the market about TIG's balance sheet, they're looking at ways of strengthening it, to offer people reassurance."
Chief executive Rob Terry already owns 16.45% of the company.
Non-executive director Gordon Crawford owns 11.74%, executive director Steve Scott 3.16%, non-executive director John Birkmire 1.55% and chief operating officer Hassan Sadiq 1.35%.
The spokeswoman categorically ruled out plans to sell the UK and German arms of MotorCare, after the sale of the French operation to Groupama last week.
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