14th Apr 2020 10:54
(Alliance News) - Events organiser Hyve Group PLC on Tuesday confirmed that it is evaluating all financing options including a equity fundraise to secure the company's long-term financial position.
"The options under review include a potential equity fundraise. The company continues to be engaged in constructive dialogue with the group's lenders in relation to covenant headroom and facility flexibility and has already secured a waiver of the June 2020 covenant tests under its debt facilities," Hyve said in response to a news report.
The virus pandemic has forced Hyve to postpone 33 events until later this year and rescheduled 12 others for 2021.
The Daily Mail reported on Sunday that the trade show organiser was in talks to raise millions of pounds via placing of new shares or a rights issue.
https://www.thisismoney.co.uk/money/markets/article-8210913/Fashion-firm-Hyve-raise-100m-takes-big-hit-coronavirus-lockdown.html
Shares in Hyve were down 1.4% at 28.94 pence each in London on Tuesday morning.
By Tapan Panchal; [email protected]
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