Money in the bank could could be used for R&D as you said. Also means they have a good cash position for potential acquisition that aligns with the business.
The business may have also been pursued by an institution to perform a cap raise as well. Give them a chance to take up a position in the company. I'm not a holder yet but would be interested to look into who managed the cap raise.
Ann: Half Yearly Report and Accounts, page-9
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