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Funding Update

6 Aug 2012 07:00

RNS Number : 3299J
Avia Health Informatics PLC
06 August 2012
 



06 August 2012

Avia Health Informatics PLC

("Avia" or the "Company")

 

Funding update

 

In the Company's unaudited preliminary results for the year ended 31st March 2012, announced on 4th July 2012 ("the Preliminary Results") the Company stated that: "Net cash at 31 March was £0.1million and the current cash resources of the business remain constrained and as a result the business remains subject to adverse trading swings. Based on the Company's current cash position and management forecasts the Company is seeking to raise approximately £1.0million in equity and/or debt funding in the short term."

 

The Company confirms that, whilst it has no debt, it remains cash constrained in the short term and is exploring a number of viable equity or debt funding options. The Company is also actively managing its cashflow and creditor obligations to allow the Company to trade through what the Directors believe to be a short term cashflow shortfall.

 

Shareholders will be updated of any material developments in this regard as soon as appropriate.

 

Enquiries:

 

Avia Health Informatics Plc

Barry Giddings, Chairman

 

+44 (0) 1494 618 503

www.ahi-plc.com

 

Allenby Capital (Nominated Adviser and Broker)

Nick Naylor (Chief Executive)

Mark Connelly (Corporate Finance)

Graham Bell (Head of Sales)

 

+44 (0) 20 3328 5656

www.allenbycapital.com

 

Cadogan PR (Financial PR)

Alex Walters

 

+44 (0) 7771 713608

www.cadoganpr.com

 

 

 

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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