We note today’s update on the distribution agreement (DA) termination notice and the final results. The two new pieces of news, in our view, are that the gross book value of the disputed stock was £4.3m at 31 March 2018 and that Sprue has entered into a £7m revolving credit facility with HSBC and drawn down £3m of this on 29 March 2018. Our forecasts, target price and recommendation will remain under review until the 2017 final results are reported for which, no date has yet been confirmed.
19 Apr 2018
Update on DA termination and final results
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Update on DA termination and final results
FireAngel Safety Technology Group plc (FA:LON) | 2.8 0 0.0% | Mkt Cap: 8.31m
- Published:
19 Apr 2018 -
Author:
Robert Sanders -
Pages:
2
We note today’s update on the distribution agreement (DA) termination notice and the final results. The two new pieces of news, in our view, are that the gross book value of the disputed stock was £4.3m at 31 March 2018 and that Sprue has entered into a £7m revolving credit facility with HSBC and drawn down £3m of this on 29 March 2018. Our forecasts, target price and recommendation will remain under review until the 2017 final results are reported for which, no date has yet been confirmed.