6 Oct 2010 13:42
IMJACK PLC
('the Company')
Renegotiation of funding facility
On 20 May 2010 the Company announced that Jeffrey Morris, a Director of the Company had agreed to provide a £500,000 drawdown facility (the "Facility") for the purposes of working capital. However, the Directors have concluded that it cannot currently drawdown the Facility under the terms of the Facility. As a result the Directors are urgently renegotiating the Facility as well as pursuing a number of alternative funding options, to enable the Company to continue to trade. Meanwhile Jeffrey Morris has made a loan of £25,000 to the Company to support the immediate working capital needs of the Company. The Directors continue to be encouraged by the interest from schools and other parties in the Company's products.
For further information please contact:
imJack Plc Michael Abrahams Chairman
| Tel. 01653 618016 |
Daniel Stewart & Company plc Emma Earl/Paul Shackleton
| Tel. 020 7776 6550 |
Rawlings Financial PR Ltd Catriona Valentine
| Tel. 01653 618016 |