31st May 2018 10:23
LONDON (Alliance News) - Carpetright PLC said Thursday another hurdle to the implementation of its company voluntary arrangement has been cleared after the challenge period ended with none made.
Carpetright began a share placing earlier in May, looking to raise GBP60.0 million, and the full implementation of the CVA is now solely conditional on this being completed.
The general meeting to approve the placing and open offer is to be held on Wednesday next week.
Carpetright in mid-April said it would shut 92 stores as part of its CVA, and also announced at that time a plan to raise approximately the new equity. Later that month it avoided administration as creditors approved the CVA.
Shares were 1.6% higher Thursday at a price of 38.30 pence each.
Related Shares:
CPR.L