GOALS Soccer Centres has tapped investors for £2.8 million after the five-a-side football operator was hit by a raft of charges, including a £1.1m bill incurred during the takeover attempt by a Canadian pension fund that was thwarted by investors last month.

A net total of £2.8m of exceptional costs sent Goals's pre-tax profit for the first half of its financial year down 84.3% on the same period last year to just £447,000.

The company's preferred measure of adjusted profit before income tax was up 10% to £4.4m for the six months to June 30, as like-for-like sales rose 2%.

East Kilbride-based Goals, which has expanded rapidly in recent years, said its fundraising, which was pitched at just 115p a share compared to the 144p being offered by the Ontario Teachers' Pension Plan (OTPP) just weeks ago, was intended to strengthen its balance sheet.

Its net debt of £53.9m gives it just £900,000 of headroom in its banking facilities and the company wants to reduce its borrowings to £40m before the end of 2014.

Managing director Keith Rogers said: "What management are doing are pursuing a policy of paying down debt in the business."

He said that after expanding from eight sites to 43 over the past eight years, he wanted to concentrate on "sweating" existing assets by encouraging more players to participate.

Mr Rogers denied the firm had overstretched itself. "It is a very profitable business," he said. "We identified an opportunity in the economic downturn which was basically to get hold of good quality locations and good quality sites. We knew that having a national presence would give additional benefits, such as entering into sponsorship opportunities."

Simon French, analyst at Panmure Gordon, said investors "may be a bit miffed" by the pricing of the share placing so far below the level of the OTPP offer.

Goals's shares fell 6p to 116.5p.

Mr Rogers said: "The fund raising has been strongly supported by our shareholders."

He denied relations with shareholders had been damaged by the rejection of the OTTP £73.1m take-over offer, which had been backed by Goals's board.

Some 71.4% of independent shareholders voted in favour of the deal, shy of the 75% needed.

"The way we are looking at it is a vote of confidence in the business. Shareholders like it so much they did not want to part with it," he said. Mr Rogers added: "They do not want to sell out just yet."

Asked if he was committed to the business in which he is the largest shareholder, Mr Rogers said "absolutely".

During the period Goals spent nearly £1.1m on legal and professional fees in respect of the aborted takeover by Goliath Bidco, the vehicle of OTTP.

Goals also had a £300,000 bill from fighting HM Revenue & Customs over the levying of value added tax on league bookings although the victory in the case boosted Goals's income by £500,000 for the period. A further £2m charge was taken as the company moved to a cheaper modular approach to building sites, tearing up some earlier plans and decided not to build on some earmarked sites.

The company now has no plans to open a new site until 2013.

Asked if by halting the expansion Goals could fall behind rivals, Mr Rogers said: "We have never seen this as a race. What we are building is a very successful, financially viable company."

Goals' privately owned rival, Powerleague, said this week it planned to add to its 44-strong estate. Glasgow-based Powerleague, which had considered its own bid for Goals, fell to a £4.5m pre-tax loss in 2011 after writedowns on assets.