RE: Placing needed urgently7 Jan 2021 10:08
Not necessarily. As I posted before.
30th. Sept.
The directors have discussed the future cashflows with two of the Group's major shareholders who are represented on the Board and, furthermore, note the continued support of these shareholders. In reaching their conclusion on the going concern assumption, the Directors note and rely on the letter of support provided by MXC Capital Limited at the time of approval of the financial statements for the year ended 31 December 2019 in July 2020, in which they undertake to continue to provide such financial support needed for continued operations for a period not less than one year from the date of approval of those financial statements. The Directors having made the necessary enquiries, have satisfied themselves of MXC Capital Limited's ability to provide such finance if necessary.