We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Litebulb Grp | LSE:LBB | London | Ordinary Share | GB00BXVMLV36 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.125 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLBB
RNS Number : 5492N
Litebulb Group Limited
01 February 2016
LITEBULB GROUP LIMITED
("LiteBulb" or the "Company")
Financing Update
LiteBulb (AIM: LBB), the branded product developer, provides the following update further to its announcement of 18 January 2016.
The Board continues to pursue a refinancing of all the Company's existing convertible loan notes ("Loan Notes") and based on its discussions with various parties now believes that this is likely to take the form of a proportion of the liability being converted in to equity and the remaining balance being rolled into a newly constituted loan note. The terms of any conversion and the issue of new loan notes remain subject to negotiation. Shareholders should note that the current liability of the principal of the Loan Notes amounts to GBP6.6 million, which is significantly greater than the current value of the Company's equity.
The Board has identified a need for additional financing amounting to approximately GBP2.0 million and are exploring means of financing this alongside the refinancing of the Loan Notes. The Board currently believes that this financing is most likely to be in the form of new equity.
The Group's cash position remains tight and as announced on 18 January the Board is closely monitoring the Group's funding. The Board remains confident that a suitable financing package which is in the interests of all stakeholders can be arranged and that with the right financial structure the trading prospects of the Company remain encouraging.
For further information, please contact:
LiteBulb Group Limited www.litebulbgroup.com Howard Partington, Interim Tel: 020 3384 7100 Chief Executive Guy Pettigrew, Group Finance Director finnCap (NOMAD & Broker) Tel: 020 7220 0500 Stuart Andrews / Adrian Hargrave / Scott Mathieson (Corporate Finance) Joanna Scott (Corporate Broking) Walbrook PR Limited Tel: 020 7933 8780 or litebulb@walbrookpr.com Paul McManus / Sam Allen Mob: 07980 541 893 / Mob: 07884 664 686
About LiteBulb Group
LiteBulb Group designs, manufactures and distributes innovative brands and products to the global retail market.
LiteBulb Products, our wide range of products are sold in over 30 countries through blue chip retailers including: Tesco, M&S, John Lewis Partnership, Sainsbury's, Debenhams, Wilkinson's, Next, Boots, WH Smiths, Amazon, Target and Costco.
LiteBulb Creative is a creative agency with global reach, delivering compelling and agile brand extension programmes to the entertainment industry. LiteBulb Creative has designed products and campaigns for clients around the world, including Disney, Hasbro and Miramax.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLFFVILFILVIR
(END) Dow Jones Newswires
February 01, 2016 02:00 ET (07:00 GMT)
1 Year Litebulb Grp Chart |
1 Month Litebulb Grp Chart |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions