Extract "The Company currently has a term loan of £3 million from Yorkshire Bank which is repayable in April 2017. After taking account of cash balances, net indebtedness to Yorkshire Bank was £1.54 million at close of business on 29 June 2015. The term loan carries a number of financial covenants, including a profitability covenant requiring EBITDA (earnings before interest, tax, depreciation and amortisation) of a minimum of £600,000 for the year ending 31 December 2015 (the "EBITDA covenant"). The Board is now of the view that the Company is unlikely to be able to meet the EBITDA covenant and is therefore commencing formal discussions with Yorkshire Bank in relation to this matter. Further announcements will be made as appropriate." ...DYOR, all...opinion only, of course
3 Jun '15
like a rights issue?
2 Jun '15
Steady upward pressure
in recent days and some decent buys. Wonder if something is about to happen here
12 May '15
looks pretty good this. the workforce got a pay rise last year,so someones optimistic on the board.
12 May '15
Surgical Innovations Group plc ("SI" or the "Group" or the "Company") Final Results Surgical Innovations Group plc (AIM: SUN) today announces its preliminary results for the financial year ended 31 December 2014. Summary · Revenue of £4.029 million (2013 restated: £7.478 million) · EBITDA loss, adjusted to exclude exceptional items, of £52,000 (2013 restated: profit of £1.681 million) · Exceptional items of £8.388 million, of which £7.797 million were non-cash impairment charges · Loss before tax of £9.829 million (2013 restated: £44,000) · Refinancing successfully completed during November 2014 comprising new investment of £1.5 million and refinancing of existing £3 million term loan · Cash balance of £678,000 at 31 December 2014, with subsequent cash generation during Q1 2015 Doug Liversidge, Non-executive Chairman, commented: "The financial performance for 2014 was extremely disappointing. However, the Board and staff of SI have worked tirelessly over the last six months with the key objective of restructuring the business to secure a sustainable future for the Group. "Following a turbulent 2014, the Group now has a stronger platform to support the business over the medium term. The Board remains committed to cash generation and the Directors are satisfied with the progress made since the refinancing was announced in November 2014."
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