Time to buy more...9 Dec 2023 19:00
Timeline very revealing here from 2nd October saying that no guarantee that sales can be satisfactorily concluded to just over a month later on the 8th November saying that placing utilised as bridging loan until funds from sale lands and AAC Cyroma is most advanced.
2nd October RNS
Discussions are ongoing with third parties interested in acquiring these assets, but at this juncture there can be no certainty that sales can be satisfactorily concluded
30th October RNS
The mature businesses and the intellectual property and plant acquired from Hanwha Aerospace in 2020 continue to be marketed for sale and we have a number of interested parties that we are progressing discussions with. The sale process for AAC Cyroma Limited, a manufacturer of moulded products, is the most advanced. However, the timing of any asset sales and the total quantum of the funds that may be received remains uncertain.
8th November RNS
The net proceeds of the Placing will be used for corporate and working capital purposes, together with providing bridge finance to extend the Company's cash runway ahead of any funds received from asset sales.
As previously announced, the mature businesses and the intellectual property and plant acquired from Hanwha Aerospace in 2020 continue to be marketed for sale and the Company is progressing discussions with a number of interested parties. The sale process for AAC Cyroma Limited, a manufacturer of moulded products, is the most advanced