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Trafficmaster steers to £3.8m placing

13 April 2012

ROAD-jam buster Trafficmaster is to raise £3.83m by placing 6.2m new shares at 62 1/2p to redeem bonds worth $15m (£8.3m) held by US subsidiary Teletrac.

The early repayment will save the in-car navigating group £63,000 a month in interest. Its shares today rose 1p to 69 3/4p.

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