7dig7 May 2019 11:09
7digital Group plc
("7digital" or the "Company")
Update re Redemption of Loan Notes
7digital Group plc (AIM: 7DIG) announces that, further to the announcement made on 11 April 2019, it is in discussions with the two loan note holders and a potential third party as to an agreement whereby the third party will purchase the loan notes and enter into a standstill agreement with 7digital. Negotiations remain ongoing and the Company will provide an update in due course.
As stated in the announcement on 11 April 2019, the Board's view remains that the Company will require material further equity and/or debt funding. It is likely that such funding will be required by the end of June 2019. Without such funding, the Company is unlikely to be able to continue as a going concern.