Conviviality PLC Further Update (9146H)
March 16 2018 - 2:00AM
UK Regulatory
TIDMCVR
RNS Number : 9146H
Conviviality PLC
16 March 2018
16 March 2018
Conviviality Plc
(the "Company")
Further Update
Further to the update announcement on 14 March 2018, the Company
has been actively engaging with its stakeholders while it continues
to work through its funding requirements:
-- Customers and suppliers remain supportive of the Company and
are working closely and constructively with the Company at this
time;
-- We have had constructive discussions with our lenders which are on-going;
-- PwC are undertaking a review of the business and its future
finding requirements and this work stream is progressing well;
-- The Company has engaged with HM Revenues and Customs ("HMRC")
regarding the GBP30.0 million payment due on the 29 March 2018.
HMRC has been receptive to our needs and these discussions
continue; and
-- The Company is engaging with its advisers and broker
regarding the possibility of an equity fundraise to effect a
recapitalisation of the business.
The Board wishes to express its gratitude to all its
stakeholders for their on-going support during this difficult
period for the Company.
A further update will be provided in due course.
The shares of Conviviality Plc remain suspended pending further
notice.
Enquiries:
Conviviality Plc Tel: 01270 614 700
Diana Hunter, Chief Executive
Officer
Mark Moran, Chief Financial
Officer
Investec (Nominated Adviser Tel: 020 7597 5970
and Broker)
Garry Levin / David Flin
/ Daniel Adams
FTI Consulting Tel: 020 3727 1000
Jonathon Brill / Georgina
Goodhew / Fiona Walker
This information is provided by RNS
The company news service from the London Stock Exchange
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