Litebulb Group Limited Financing Update (6637P)

TIDMLBB

RNS Number : 6637P

Litebulb Group Limited

22 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 1 February 2016.

As previously announced on 18 January 2016, the first tranche of the Company's existing convertible loan notes ("Loan Notes") of GBP800,000 principal plus outstanding interest and redemption premia was due for repayment on 20 February 2016. The Company is pleased to announce that the Loan Note holders have agreed to extend this debt until 23 March 2016.

The Company is now in active discussions to secure additional financing of approximately GBP2.0 million through an equity fundraising, alongside the associated restructuring of its current indebtedness. While the Board has made significant progress towards achieving this, it notes that the Company's current cash position remains tight.

For further information, please contact:

 
 LiteBulb Group Limited                                                         www.litebulbgroup.com 
 Howard Partington, Interim Chief                                                  Tel: [phone] 
  Executive 
 Guy Pettigrew, Group Finance Director 
 
 finnCap (NOMAD & Broker)                                                          Tel: [phone] 
 Stuart Andrews / Adrian Hargrave / Scott Mathieson 
  (Corporate Finance) 
 Joanna Scott (Corporate Broking) 
 
 Walbrook PR Limited                                    Tel: [phone] or [e-mail] 
 Paul McManus / Sam Allen                                             Mob: [phone] / 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

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February 22, 2016 02:00 ET (07:00 GMT)