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BRIEF-Entu (UK) updates on discussions for potential refinancing
August 23, 2017 / 12:42 PM / 4 months ago

BRIEF-Entu (UK) updates on discussions for potential refinancing

Aug 23 (Reuters) - Entu (Uk) Plc

* ALL OF PROPOSALS RECEIVED ATTRIBUTE LITTLE VALUE TO EQUITY IN COMPANY

* ‍DISCUSSIONS WITH PREFERRED PARTY HAVE FAILED TO REACH A CONCLUSION ALTHOUGH DISCUSSIONS WITH ONE REMAINING PARTY ARE CONTINUING​

* IF CURRENT DISCUSSIONS ARE UNSUCCESSFUL, IT IS LIKELY THAT PARENT COMPANY WILL BE PLACED INTO ADMINISTRATION WITH A VIEW TO SELLING TRADING BUSINESSES

* UNDERTAKING DISCUSSIONS AS A MATTER OF URGENCY GIVEN NEED TO BRING FINANCIAL STABILITY TO GROUP IN VERY NEAR FUTURE

* IF CURRENT DISCUSSIONS ARE SUCCESSFUL, BOARD EXPECTS GROUP TO SEE FURTHER INCREASE IN ITS LEVEL OF INDEBTEDNESS

* DECIDED TO REVIEW ITS RRSA SERVICE WHICH IT HAS TEMPORARILY STOPPED PROVIDING WHILST IT EVALUATES ALTERNATIVE FORMATS

* DIRECTORS ARE ASSESSING IMPACT ON ITS PROFIT GUIDANCE TO MARKET FOR CURRENT YEAR AND FOLLOWING YEAR Source text for Eikon: Further company coverage:

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