19 Feb 2020 12:35
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 ("MAR").
19 February 2020
For immediate release
LAURA ASHLEY HOLDINGS PLC
Financing Update
Further to the announcement on 16 February 2020 in response to press speculation, the board of Laura Ashley Holdings PLC (the "Company" and, together with its subsidiaries, the "Group") is pleased to announce that discussions between Wells Fargo and MUI Asia Limited relating to the Group's immediate funding requirements have concluded and the Group should be able to utilise requisite funds from its working capital facility with Wells Fargo to meet its immediate funding requirements. As previously announced, this is not a cash injection by MUI Asia Limited into the Group.
The Company welcomes the support from MUI Asia Limited and continues to review its working capital needs on an ongoing basis. The Company will update shareholders in due course in relation to the review of its working capital needs.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Sagar Mavani, Chief Financial Officer.
LEI: 213800GTYRHRBJKABN84
Enquiries:
KCNg/KatharinePoulter/Sagar Mavani |
| Laura Ashley |
| 02078805100 |
Anita Scott / Alice Gibb |
| Brunswick |
| 02074045959 |
Rick Thompson / Michael Boot |
| Cantor Fitzgerald Europe |
| 02078947000 |