nice7 Nov 2016 11:53
'The company does not appear to be in any fundamental danger given the higher and more accurate net debt of £30m is still only just over one-times full year EBITDA,' says Philip Carse, analyst at IT analysis boutique Megabuyte.
'It has £50m of total debt facilities; debt continues to be repaid out of cash flow plus the recently announced sale of MANs for £5m, and the company has said that the accounting misstatements relate only to prior years.'
One thing for sure is they will have a few meetings with the banks in the coming days/weeks.