Silver Bullet Data Services Group PLC - London-based provider of digital transformation services and products - Posts widened pretax loss for 2021, driven by higher expenses and declares no dividend for the year.

For 2021, posts pretax loss of £8.6 million, widened from £5.4 million the previous year as its operating loss widens to £8.5 million from £5.3 million. Revenue rises to £3.8 million from £2.8 million.

Separately, says it has raised £4.5 million via a placing and subscription for 2.4 million new shares at a price of 100 pence each for £2.4 million and the issue of and the issue of £2.1 million of convertible loan notes. Further, Silverbullet has also granted an option to its broker Oberon Capital to facilitate up to £500,000 of potential additional demand for new shares from qualified shareholders and other qualifying investors on the same terms as the placing for up to 10 days.

Chief Executive Officer Ian James says ‘We are operating in a very exciting and relevant space. The value of 1st party data to clients and benefits of 4D, our contextual outcomes engine designed for a world without third-party cookies, gives us confidence that our prospects are very encouraging.

‘Trading for 2022 has started well, with new customer wins and extensions of existing contracts, as well as the new joint venture with Making Science which will create new improved solutions for the privacy-first era. I look forward to the remainder of 2022 with optimism and we will be updating the market on progress in due course.’

Current stock price: 100.05 pence, down 29% Wednesday

12-month change: down 64%

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