Reply from20 Dec 2016 15:08
Peter Conor. Nothing not already known. Just his reply to my moaning email lol.
The Board has considered the interests of all of our shareholders very carefully. Our reasons for concluding on the recommendation are summarised in Friday's announcement. Trading during the last 12 months has been particularly challenging for Sepura. The business announced a pre-tax loss of €62.1 million for the six months ended 30 September 2016. Sepura has reached an agreement to defer certain debt repayments with its lenders, enabling the Group to meet its forecast liquidity requirements for at least the next 12 months, but it also expects to require a waiver of some of its covenants by its lenders from March 2017.
This transaction recognises the underlying strengths of Sepura’s technology and customer base despite the difficulties of the last 12 months. It will provide certainty for our shareholders, and secure the future of the business.
Kind regards,
Make your own minds up. I sold yesterday at a substantial loss. Some of you may feel there is a brighter light at the end of the tunnel. Good luck whatever you decide, Carp.