entu (UK) plc Strategic Review Update (9315M)

TIDMENTU

RNS Number : 9315M

entu (UK) plc

02 August 2017

This announcement contains Inside Information

Entu (UK) plc

Strategic Review Update

Entu (UK) plc, ("Entu" or the "Company" or the "Group"), the home improvement group providing energy efficiency products and services to homeowners and businesses in the UK, announces an update on its strategic review which commenced on 6 July 2017.

Following receipt of several approaches, the Group is proceeding, with the support of its existing lenders, with a small number of interested parties in relation to a potential refinancing of the Group. If one of the currently preferred proposals is successful, the Board expects the Group to see a further increase in its level of indebtedness as creditors are brought back into line with normal payment terms. The Board notes that all of the proposals received attribute little value to the equity in the Company. There is no certainty that any of these proposals, or any alternatives, will be ultimately successful.

The Board expects to provide a further update later in August.

As stated at the time of the half year results, the Group still expects the full-year loss before interest, tax, depreciation and amortisation on continuing operations, before exceptional items, to be in the range of GBP1.2m-GBP2.2m.

ENQUIRIES

 
 entu 
  Ian Blackhurst, Chief Executive Officer 
  Neill Skinner, Chief Financial Officer     020 7457 2020 
 Zeus Capital Limited (Nomad & Broker) 
  Andrew Jones / Dan Bate 
  John Goold / Dominic King                  020 3829 5000 
 Instinctif Partners (Public Relations) 
  Helen Tarbet 
  James Gray                                 020 7457 2020 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 02, 2017 09:55 ET (13:55 GMT)