Beleaguered environmental, health and safety and risk management software concern Camaxys (a former tractor tyre maker) says it is seeking to raise additional equity finance ‘as a result of delays in major sales’ that the company is pursuing. Robert Tyerman reports.

AIM-quoted Camaxys, where former Marconi boss and ex-Glaxo director Derek Bonham recently resigned as chairman, does not say how large an equity injection it wants or how serious are the sale delays in question. At the end of March, when announcing interim losses of £720,000 on a reduced £137,000 turnover, Bonham spoke of delayed ordering by potential customers in advance of the launch of a new, upgraded version of Camaxys’ ‘7’ system.

He also claimed a ‘strong pipeline of future sales’ and cited legislation, such as the Sarbanes-Oxley corporate governance act in the US, as helping drive demand for Camaxys’ systems. Floated nine years ago at 48.56p by Shore Capital, the shares are 2p down today at 10.5p, where prospects hinge on the outcome both of the fundraising and the company’s efforts to clinch some sales deals.