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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Regenesis | LSE:RGN | London | Ordinary Share | GB00B1T8X133 | ORD 0.025P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.15 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
10 April 2008 Regenesis Group plc ("Regenesis" or the "Company") Trading update Following the lifting of the suspension of trading in the Company's shares on 4 April 2008 and in advance of the Company's preliminary results, which the Company intends to issue in early June, the directors are pleased to provide shareholders with a trading update. The Company has now substantially implemented its investment strategy and has established a short term asset finance business. The Company has seen short term asset finance opportunities increase in the light of the recent credit tightening by mainstream lenders. In the year ended 31 December 2007, the Company lent customers £2.6 million, using virtually all of its cash and senior debt facility. The Company reported an interim loss on September 2007 of £336,000, a large part of which was due to the costs associated with the issue of an admission document in March 2007. However, the board believes that the Company will report a much smaller loss for the six month period ended 31 December 2007. The directors have adopted a cautious approach in managing the loan book, a position which they consider to be justified by the difficulties now being seen in the credit market. This approach has meant that the size of the loan book has been lower than anticipated in the second six months of 2007. However, the directors are pleased that the strategy has produced a portfolio of fully performing loans. Since the period end, lending rates have increased slightly and the Company's resources remain fully committed, with commitments of over £2 million expected to be drawn in the near future. The volume of enquiries continues at a good level, further encouraging the Directors to review the level and cost of capital available. Further enquiries: Regenesis Group plc Tel: 0161 929 5088 John Barnacle John East & Partners Limited Tel: 020 7628 2200 John East/Simon Clements END
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