Re: Credit31 Aug 2007 15:52
What are their options to raise money ?
They could sell :
CICS
There share of Ridgcrest
There share of Medilator
They still have shares to pay for debt :
5-"to allot equity securities (within the meaning of section 94 CA 1985) for cash consideration-up to an aggregate nominal amount of £760,072 (representing approximately 10 per cent. of the issued share capital of the Company);
6-"to allot relevant securities (within the meaning of the said section 80) up to an aggregate nominal amount of £2,533,572 during the period commencing on the date of the passing of this resolution and expiring on the earlier of the conclusion of the annual general meeting of the Company in 2008 and 30 October 2008, but so that this authority shall allow the Company to make before the expiry of this authority offers or agreements which would or might require relevant securities to be allotted after such expiry and notwithstanding such expiry the Directors may allot relevant securities in pursuance of such offers or agreements.”
See AGM special bussiness:
http://tinyurl.com/26zlkn
Invoice discounting facility from annual report :
The Group’s £1,500,000 (2006: £2,500,000) invoice discounting facility was drawn down by £584,000 at 28 February 2007 (2006: £931,000) and it is secured over the trade debtors of certain members of the Group.
Headstart Facility :
Is there still £1,900,000.00 left ? Haven't seen any other RNS and