PLC Financial Solutions Limited (ASX:PLC) announced a private placement of common shares for gross proceeds of AUD 5,000,000 on May 7, 2018. The transaction was approved by the company in its general meeting. The issue price is not known at this time, however it will be in accordance with ASX Listing Rule 7.3.3 and will be not less than 80% of the volume weighted average market price for shares calculated over the previous five days on which sales in the shares were made prior to the issue or, if there is a disclosure document, over the last five days on which sales in the securities were recorded before the date the disclosure document is signed.