entu (UK) plc Strategic Review (2571K)

TIDMENTU

RNS Number : 2571K

entu (UK) plc

06 July 2017

This announcement contains Inside Information

Entu (UK) plc

Strategic Review

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 that its Board is undertaking a strategic review.

The strategic review is being undertaken to ensure the action plan, as announced in the trading update on 14 June 2017, is delivered efficiently and in a suitable timescale. The Group has a detailed plan to reduce costs, improve operational efficiency, leverage its supply chain, improve cash collection and strengthen controls and is making progress on each of these fronts.

As part of the strategic review, the Directors are exploring options for new long term financing, and to strengthen the balance sheet, in order to support the Group's action plan. KPMG have been engaged to assist with this process which, alongside debt or debt and equity refinancing, will include establishing interest in certain parts of the Group.

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 
 

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July 06, 2017 02:00 ET (06:00 GMT)