Safestyle announced the successful placing to raise £8.5m to further strengthen the balance sheet and see the business through the current COVID-19 situation. The placing price of 17p was a slight premium to the previous night’s close and a c.20% premium to the 14p low on the 3rd April. Post the placing, covenants on Safestyle’s debt have been waived for up to six months and a reduced EBITDA covenant target will be in place for the rest of FY20. The improved banking terms, in combination with th ....
28 Apr 2020
Safestyle UK Plc (SFE LN) - Successful placing strengthens the balance sheet leaving the business in a strong position
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Safestyle UK Plc (SFE LN) - Successful placing strengthens the balance sheet leaving the business in a strong position
- Published:
28 Apr 2020 -
Author:
Andy Hanson -
Pages:
9
Safestyle announced the successful placing to raise £8.5m to further strengthen the balance sheet and see the business through the current COVID-19 situation. The placing price of 17p was a slight premium to the previous night’s close and a c.20% premium to the 14p low on the 3rd April. Post the placing, covenants on Safestyle’s debt have been waived for up to six months and a reduced EBITDA covenant target will be in place for the rest of FY20. The improved banking terms, in combination with th ....