Banking Update and Suspension from Trading (5903T)
08 Dicembre 2011 - 9:15AM
UK Regulatory
TIDMMSQ
RNS Number : 5903T
Media Square PLC
08 December 2011
Media Square plc ("Media Square" or the "Company")
Banking Update and Suspension from Trading
As previously announced, the Company has been operating with
limited headroom against its existing facilities and has a clear
requirement for additional funding in the short term as it enters
the seasonal peak in working capital requirements.
Also as previously announced, on 1 December 2011 the Company
requested additional facilities from its Bank to ensure it is able
to meet future working capital requirements and certain revisions
to its existing covenant regime.
The Company's Bank has now informed the board that it cannot
commit to amending the Company's banking covenants and furthermore
will not extend the facilities available to the Company at this
stage. As a result of the uncertainty surrounding the Company's
banking facilities, the Company has requested that its shares are
suspended pending further clarification of its financial
position.
Further announcements will be made in due course.
For further information please contact:
Media Square plc www.mediasquare.co.uk
Roger Parry 020 3026 6601
Peter Reid 020 3026 6607
Collins Stewart Europe Limited
Matt Goode/Adam Miller 020 7523 8350
This information is provided by RNS
The company news service from the London Stock Exchange
END
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