entu (UK) plc Strategic Review Update (9315M)
02 August 2017 - 3:55PM
UK Regulatory
TIDMENTU
RNS Number : 9315M
entu (UK) plc
02 August 2017
This announcement contains Inside Information
Entu (UK) plc
Strategic Review Update
Entu (UK) plc, ("Entu" or the "Company" or the "Group"), the
home improvement group providing energy efficiency products and
services to homeowners and businesses in the UK, announces an
update on its strategic review which commenced on 6 July 2017.
Following receipt of several approaches, the Group is
proceeding, with the support of its existing lenders, with a small
number of interested parties in relation to a potential refinancing
of the Group. If one of the currently preferred proposals is
successful, the Board expects the Group to see a further increase
in its level of indebtedness as creditors are brought back into
line with normal payment terms. The Board notes that all of the
proposals received attribute little value to the equity in the
Company. There is no certainty that any of these proposals, or any
alternatives, will be ultimately successful.
The Board expects to provide a further update later in
August.
As stated at the time of the half year results, the Group still
expects the full-year loss before interest, tax, depreciation and
amortisation on continuing operations, before exceptional items, to
be in the range of GBP1.2m-GBP2.2m.
ENQUIRIES
entu
Ian Blackhurst, Chief Executive Officer
Neill Skinner, Chief Financial Officer 020 7457 2020
Zeus Capital Limited (Nomad & Broker)
Andrew Jones / Dan Bate
John Goold / Dominic King 020 3829 5000
Instinctif Partners (Public Relations)
Helen Tarbet
James Gray 020 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
END
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