Re banking facilities and equity fundraising
28/08/2008 2:15pm
UK Regulatory
RNS Number : 2265C
Myhome International PLC
28 August 2008
For immediate release
28 August 2008
Myhome International plc
("Myhome" or the "Company")
Re banking facilities and equity fundraising
On 22 July 2008, the Company announced that it was in discussions with its bank, Lloyds TSB Bank plc ("Lloyds TSB"), regarding
re-negotiation of the £8 million banking facility and a potential equity fundraising.
The Board is pleased to announce that it has received an offer from a potential investor, subject to contract, to replace the existing
Lloyds TSB facility with an equivalent facility on terms to be agreed. In addition, the offer requires the company to issue new shares at a
substantial discount to the current market price in order to provide additional working capital. The proposed offer is subject to due
diligence, approval by Lloyds TSB and receipt of shareholder and regulatory approvals as required.
Further announcements will be made in due course.
Enquiries:
Myhome International plc 01372 471573
Jon Pither
Russell O'Connell
Neal Gossage
Noble & Company Limited 020 7763 2200
Nick Naylor
Alastair Maclachlan
This information is provided by RNS
The company news service from the London Stock Exchange
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