Franchise Brands has conducted a placing to raise gross proceeds of £14m at 90p per share. The Group is raising additional equity to strengthen its balance sheet, improve liquidity and position itself to take advantage of earnings-enhance growth opportunities as they arise. Franchise Brands has also provided a more detailed CV-19 update. Total staff costs have been reduced -45% through the furloughing of staff and pay cuts (c.66% of pay cut savings from Board salaries). Most of the serv
21 Apr 2020
Placing & Trading Update
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Placing & Trading Update
Franchise Brands plc (FRAN:LON) | 178 0 0.0% | Mkt Cap: 345.9m
- Published:
21 Apr 2020 -
Author:
Thomas Like -
Pages:
11
Franchise Brands has conducted a placing to raise gross proceeds of £14m at 90p per share. The Group is raising additional equity to strengthen its balance sheet, improve liquidity and position itself to take advantage of earnings-enhance growth opportunities as they arise. Franchise Brands has also provided a more detailed CV-19 update. Total staff costs have been reduced -45% through the furloughing of staff and pay cuts (c.66% of pay cut savings from Board salaries). Most of the serv