Silverdell In Talks With Barclays Over Banking Facilities
05 März 2009 - 6:28PM
Dow Jones News
Silverdell said Thursday that while it continues to generate
revenues broadly in line with the corresponding period in the
previous financial year, its banking facilities with Barclays Bank
are currently being negotiated to reflect the present economic
climate, as future levels of profitability are hard to predict.
Whilst the company has no reason to believe that the bank does
not remain supportive of Silverdell, it is currently anticipated
that, as part of these discussions, there will be a reduction in
the facilities drawn down.
The company is therefore in discussions with its largest
shareholder about the raising of additional equity from
shareholders.
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