In a statement in early March, Alexandra’s board said that this fundraising effort “would provide the company with the longer term funding structure it needs and would enable it to capitalise on opportunities to increase its market share”.

Alexandra also revealed that it is no longer considering an option that includes an offer for the company.

The board intends to change the financial year-end of the company to 31 March so its next annual report will cover the fourteen months to 31 March 2010.